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.
The Bulls are trying to get back into the game on the final day of the week CoinMarketCap.
ETH/USD
The price of Ethereum (ETH) has increased by 1.86% since yesterday. Over the past seven days, the price has been almost unchanged.
On the hourly chart, the price of the major altcoin made a false breakout of the local resistance of $3,409. If it continues lower, traders could see a test of the support at $3,375 by tomorrow.
On the larger time frame, the situation is neutral as the price is far from key levels. Volume continues to decline, which means that neither buyers nor sellers are ready to seize the initiative at the moment.
Related to
In this case, one should not expect a sharp rise or fall soon.
From a mid-term point of view, it is too early to consider a reversal despite a possible bullish weekly close. If the bar closes around current prices, continued sideways trading is the most likely scenario.
Ethereum is trading at $3,406 at press time.
Source link