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 Bears are back in the game, according to CoinStats.
ETH/USD
The price of Ethereum (ETH) has fallen by 4.38% since yesterday.
On the hourly chart, ETH price is approaching the local support level of $3,532. If the daily bar closes near that mark, the correction to the $3,500 area is likely to continue.
On the daily time frame, the picture is bearish as the price declines after a false break of the $3,720 level. If the candle closes near the low, traders could see a test of the $3,400-$3,450 area soon.
From a mid-term perspective, buyers failed to sustain the growth after the bullish bar closed.
Related to
If the situation does not change by the end of the week, a test of the $3,200 range is likely.
Ethereum is trading at $3,541 at press time.
Source link