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.
Even though the market remains bearish, the prices of some coins have returned to the green zone, according to CoinStats.
ETH/USD
The rate of Ethereum (ETH) has declined by 3% since yesterday.
On the hourly chart, the price of ETH is closer to the resistance level of $2,378. If buyers can hold the gained initiative, there is a chance to see a breakout, followed by further growth to the $2,400 area.
On the daily time frame, the rate of the main altcoin has once again bounced off the recently formed support of $2,313.
Denys SerhiichukEven if the candle closes far from that mark, bulls have not accumulated enough energy for a sharp move. In this case, sideways trading in the range of $2,350-$2,540 is the more likely scenario.
From the midterm point of view, there are no reversal signals yet. If the weekly bar closes around the current prices, traders may witness a test of the $2,000-$2,100 zone soon.
Ethereum is trading at $2,350 at press time.
Dan Burgin
Vladislav Sopov