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.
Most of the coins continue rising on the first day of the week, according to CoinStats.
ETH/USD
The rate of ETH has gone up by 3.75% since yesterday.
On the hourly chart, the price of Ethereum (ETH) has made a false breakout of the local resistance of $2,099. As most of the daily ATR has been passed, there are low chances of seeing sharp moves.
Denys SerhiichukHowever, if the candle closes around that mark, growth is likely to continue tomorrow.
A less bullish picture can be seen on the daily time frame. The rate of the main altcoin is far from support and resistance levels. Thus, the volume remains low, confirming the absence of buyers' or sellers' strength. In this regard, consolidation in the range of $2,050-$2,150 is the more likely scenario.
From the midterm point of view, the situation is similar. Traders should focus on the nearest interim level of $2,200. Until the price is below it, bears are more powerful than bulls, which means there is still a chance to see a price drop.
Ethereum is trading at $2,100 at press time.
Vladislav Sopov
Dan Burgin