As a seasoned crypto investor with battle-scars from previous market downturns, I’ve learned to navigate through these red seas without losing my cool. The latest dip in the market, as shown by CoinMarketCap, is just another reminder of the volatile nature of this exciting investment space.
The market is turning back to red, according to CoinMarketCap.
ETH/USD
The rate of Ethereum (ETH) has fallen by 0.41% over the last 24 hours.
On an hourly basis, the Ethereum price has surged following a misleading drop below its local support at $3,874. If today’s daily bar ends close to the resistance level, it’s likely that the upward trend will continue towards approximately $3,980-$4,000 by the end of the weekend.
On a day-to-day basis, the primary cryptocurrency is experiencing an upward trend. Currently, it’s crucial to keep an eye on the significant level around $4,000.
If its breakout happens, traders may witness a test of the resistance of $4,087 soon.
On the weekly chart, there’s a positive outlook emerging. If the price ends up near the $4,093 mark by the end of the week, the stored momentum could potentially propel it towards the $4,400 region.
Ethereum is trading at $3,944 at press time.
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2024-12-13 19:21