Ken Chigbo
Independent Analyst
- Ethereum price is trading in the red on Friday down some 3% in the second part of the day.
- ETH/USD a long running ascending trend line can be supporting the price for now via the daily view.
- Near-term price rallies appear vulnerable to downside, given bulls capped by supply at $230.
Spot rate: 218.22
Relative change: -3.15%
High: 226.52
Low: 213.24
ETH/USD 60-minute chart
- Near-term bearish flag structure subject to a potential breakout south, via the 60-minute.
ETH/USD daily chart
- Critical trend line of support has been in play since March, with the price subject to retesting this.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Bitcoin rebounds as South Korea martial law proves short-lived
Bitcoin recovers slightly, trading above $96,000 on Wednesday, after its recent dip on Tuesday due to the political strife in South Korea. With the crisis seeming to be mostly over, BTC recovered more as the reversal of the martial law restored confidence in crypto markets.
Curve DAO price surges above $1, highest level since April 2023
Curve DAO extends gains by more than 30% on Wednesday, rallying 70% so far this week and reaching levels not seen since April 2023. On Tuesday, the announcement of CRV’s scrvUSD stablecoin launch on the Spectra ecosystem fueled the ongoing rally.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptomarket stabilizes after South Korea reverses martial law
Bitcoin hovers near $95,700 on Wednesday, signaling potential weakness as technical indicators suggest a decline, while Ethereum and Ripple stabilize near key levels, hinting at a possible rally following South Korea's reversal of martial law.
Ripple's XRP sees over $4 billion in profit-taking following surge in whale activity
Ripple's XRP is down 5% on Tuesday after news of South Korea declaring martial law sparked a surge in selling activity and significant profit-taking among investors. However, whales have stepped up buying pressure as the remittance-based token looks to stage a recovery.
Bitcoin: A healthy correction
Bitcoin (BTC) experienced a 7% correction earlier in the week, dropping to $90,791 on Tuesday before recovering to $97,000 by Friday. On-chain data suggests a modest rebound in institutional demand, with holders buying the dip. A recent report indicates BTC remains undervalued, projecting a potential rally toward $146K.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.