The cryptocurrency market could not withstand sellers’ pressure, according to the CoinMarketCap ranking.
Ethereum (ETH) is the exception to the rule, rising by almost 2%.
On the hourly chart, the price of Ethereum (ETH) is trading in the middle of the channel, between the support at $1,865 and the resistance at $1,925. There are low chances of seeing the breakout of any of these marks, as most of the daily ATR has been passed.
In this regard, sideways trading around $1,900 is the more likely scenario.
On the daily time frame, traders should pay attention to yesterday’s peak at $1,890. If the candle closure happens above it, growth may continue to the $1,950 area and above.
Ethereum (ETH) has broken the resistance of 0.06672 on the daily chart against Bitcoin (BTC). If the rate remains above that mark, one can expect ongoing midterm growth to the 0.07 zone.
Ethereum is trading at $1,898 at press time.