Analytics / Forex and Crypto News
Ethereum is again trying to strengthen. This is the third attempt this year. At the time of publication, the ETH/USD pair is trading around $239 and plans to continue its growth to $240 and a further $250. On May 30, the ETH/USD pair tried a second time in the spring (March 7, ETH/USD was the first attempt) to break above the level of $250, but began to correct down. The level of $230 kept the price.
On the hourly chart, we see a bullish trend line that supports the pair around $230. And if it remains above the level of $230, the ETH/USD pair will try to break through the level of $250 again. The ETH/USD pair also rose above the Fibonacci retracement levels of 50% and 61.8% of the decline from $250 to $229.
It seems that in reality, investors are fighting for the level of $240. If the bulls manage to raise the price above $240, the pair will once again try to overcome the $250 mark.
If the ETH/USD pair fails to rise above $240, another downward correction is possible. In this case, the closest support area is limited by the levels of $232- $230. In case of breakdown, a more significant decrease soon is possible.
MACD is located in the bullish zone, which indicates further growth of the ETH/USD pair. The RSI is forming just above 50, indicating market uncertainty. This confirms that the level of $240 is important for bulls and bears, and will show the further movement of the pair
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov