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.
Bulls do not seem ready for a continued upward move, according to CoinStats.
ETH/USD
The price of Ethereum (ETH) has fallen by 1.66% over the last 24 hours.
On the hourly chart, the rate of ETH remains bearish as it is coming back to the local support level of $3,055. If the situation does not change by the end of the day, one can expect a breakout to the $3,000 zone.
On the bigger time frame, one should pay attention to yesterday's bar's low. If the candle closes near it or below, the fall may continue to the vital area of $3,000 shortly.
From the midterm point of view, the rate of ETH is far from key levels, which means neither buyers nor sellers are ready for a sharp move.
Denys SerhiichukIn this case, ongoing sideways trading in the zone of $2,900-$3,100 is the more likely scenario.
Ethereum is trading at $3,074 at press time.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team