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.
Buyers are trying to hold the gained initiative at the beginning of the weekend, according to CoinStats.
ETH/USD
The rate of Ethereum (ETH) has gone up by 2.20% over the past 24 hours.
On the hourly chart, the price of ETH is rising after a false breakout of the local support level of $2,411. If the daily bar closes far from it, the growth may continue to the resistance by tomorrow.
On the bigger time frame, traders should focus on the level of $2,466. If a breakout happens, the accumulated might be enough for a continued upward move to the $2,500-$2,600 range.
Denys SerhiichukSuch a scenario is relevant until the end of the upcoming week.
From the midterm point of view, buyers do not have enough strength to keep rising even if the weekly bar closes around the current prices. In this case, a consolidation in the zone of $2,300-$2,600 is the more likely scenario.
Ethereum is trading at $2,418 at press time.
Gamza Khanzadaev
Tomiwabold Olajide