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 continues setting new local lows, according to CoinMarketCap.
ETH/USD
The rate of Ethereum (ETH) has fallen by 6.74% over the last day.
On the hourly chart, the price of ETH is near the support of $2,442. If the daily bar closes near that mark, the decline may lead to the test of the $2,400 zone tomorrow.
On the bigger time frame, one should pay attention to the nearest level of $2,437.
Denys SerhiichukIf it breaks out, the correction is likely to continue to the $2,350-$2,400 range within the next few days.
On the weekly chart, the rate of ETH is far from the main levels. However, if the bar closes near its low, there is a chance to see a more profound drop to the $2,200-$2,300 area until the end of the month.
Ethereum is trading at $2,450 at press time.
Gamza Khanzadaev
Godfrey Benjamin
Dan Burgin
Vladislav Sopov
U.Today Editorial Team