- ETH manages to bounce along with its larger peer, but stalls.
- CME says it would launch two ETH products.
Second largest cryptocurrency by market capitalisation, Ethereum, manages to bounce off the lows of the day with some force, but only to find some barrier ahead as bulls lacked enough strength to take it to even higher levels.
ETH/USD is currently trading mildly positive at $731.55 after hitting day's low of $685.12, earlier in the day. ETH faces some resistance on the 60-minute chart in the form of descending trendline drawn from recent lower highs, unless crossed it would continue to languish.
One of the key developments for ETH though is that the U.S. exchange operator CME announced it would launch two new Ethereum products, Ether Reference Rate and Ether Real-Time Index in partnership with cryptocurrency trading platform Crypto Facilities.
"We are focused on establishing the index and reference rate for the foreseeable future, and do not currently have plans to launch a futures product, " said a CME spokesperson.
ETH/USD 60-minute chart:
BEST BROKERS TO TRADE CRYPTO
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.