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.
Market growth remains the most likely scenario for most of the coins, according to CoinMarketCap.
ETH/USD
The rate of Ethereum (ETH) has gone up by 0.88% over the last 24 hours.
On the hourly chart, the price of ETH has made a false breakout of the formed resistance of $2,647.
If the daily bar closes far from that mark, bears may come back to the game, which may lead to a drop to the $2,600 range.
On the longer time frame, bulls are trying to seize the initiative. If the daily candle closes around current prices or above, the upward move is likely to continue to the $2,700 mark.
From the midterm point of view, one should focus on the weekly bar's closure in terms of the $2,738 level. If its breakout happens, the accumulated energy might be enough for a test of the vital $3,000 area.
Ethereum is trading at $2,636 at press time.
Vladislav Sopov
U.Today Editorial Team