The cryptocurrency market is trading completely differently today. While Bitcoin Cash (BCH) and Litecoin (LTC) have remained in the red zone, Cardano (ADA) has rocketed 12% over the past day.
The rise of altcoins has affected the market capitalization, which has increased over the past 24 hours around $2 Bln and is now $259.2 Bln.
The relevant data for Ethereum is below.
Market Cap: $25,677,819,096
Volume (24h): $6,354,460,871
Change (24h): 0.38%
The data is relevant at press time.
ETH/USD: Can Ethereum rise faster while Bitcoin trades sideways?
Yesterday, in the morning, the price of Ethereum (ETH) consolidated under the two-hour EMA55. In the afternoon, the volume of purchases increased and the pair broke through the level of average prices, and by the end of the day, it came close to the resistance at $233. The daily maximum is set at around $230.
During the night, Ethereum (ETH) rolled back a bit, but if buyers can break above the resistance of $233, then the pair may recover to the area of the POC line ($243.25).
On the 4H chart, nothing crucial has changed so far. Ethereum (ETH) keeps trading within the rising channel, aiming at $235. Moreover, a Triangle figure has been formed, which confirms the ongoing bullish dominace. Last but not least, there is high liquidity in the $230-$235 zone.
On the daily time frame, the sideways trading has continued as there is no dominance from neither bulls nor bears. What is more, the trading volume has remained at the same level. As such, traders can expect Ethereum (ETH) to shift into trading in the yellow range between $230 and $240 soon.
Ethereum is trading at $227.79 at press time.