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 responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.
Buyers are trying to regain lost initiative, according to CoinMarketCap.
ETH/USD
The price of Ethereum (ETH) has fallen by 6.58% in the past 24 hours.
On the hourly chart, ETH price is close to the local support level of $3,393. If a breakout occurs, the correction to the $3,300 range could continue soon.
On the larger time frame, the bulls failed to sustain yesterday's growth. If the day bar closes around current prices or lower, there is a chance to test the $3,252 support level by the end of the week.
From a mid-term point of view, you should focus on the weekly candle close.
Related to
If that happens near $3,200, traders could see a continued decline over the next week.
Ethereum is trading at $3,406 at press time.
Source link