Tanya Abrosimova
Independent Analyst
- Gemini introduces block trading service for Bitcoin and Ethereum.
- ETH is glued to $400 without fresh catalysts.
All major digital coins are sitting in tight ranges after volatile Monday trading. Ethereum is going in circles around pivotal $400 level as volatility is dying.
Meanwhile, Gemini, the cryptocurrency exchange founded by renowned crypto enthusiasts Winklevoss brothers announced that it would allow investors to buy or sell large quantities of cryptocurrencies outside of the company's order books. This approach is often used by institutional investors and hedge funds to avoid disruptive market fluctuations. It is very much like over-the-counter deals that are gaining popularity among cryptocurrency investors.
Ethereum technical picture
Ethereum price is sandwiched between 200 and 100-EMA on the hour chart ($400 and $395 respectively) amid waning momentum. The coin needs to get above $400 as quickly as possible to stay on positive trend at least on the intraday level and get a chance to return to Monday's high at $430. On the downside, strong support is seen at $370-$360, that's where fresh buying interest is likely to appear.
ETH/USD, the hourly chart
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