Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The market is back to green, according to CoinMarketCap.
ETH/USD
Ethereum (ETH) is one of the biggest gainers today, rising by 4.79%.
On the hourly chart, the rate of ETH is on its way to the local resistance of $4,336. If it breaks out, growth is likely to continue to the $4,400 area shortly.
On the longer time frame, the rate of the main altcoin is far from support and resistance levels. The volume is low, which means none of the sides has accumulated enough energy to seize the initiative.
In this regard, sideways trading in the range of $4,300-$4,500 is the most likely scenario.
From the midterm point of view, the price of ETH has bounced off the support of $4,093. If the weekly bar closes far from that mark, there is a high chance to see a test of the $4,800-$5,000 area.
Ethereum is trading at $4,267 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team