Analytics / Forex and Crypto News
Ethereum hit a weekly high of $380 last week, but failed to break that level and began a correction. As a result, the pair ETH/USD began a correction and dropped to the $372 area. However, the ETH/USD pair started the new week with growth and at the time of publication, the pair broke through the resistance level of $380 and rose to the $387 area.
If you look at the chart of the ETH/USD pair, you can see that the pair began a bullish rally after it crossed the $355 level, it rose above the 100 MA. Having also overcome the $355 level, the price left the triangle. After that, the price broke through the intermediate resistance levels of $365 and $370 without any problems.
After breaking through the $380 level, the pair opened the way to the next $395- $400 resistance area.
If Ethereum fails to close the daily candle above $380, a correction is likely. In this case, the level of support will be $365. The $355 level is key. Moreover, 100MA is located here.
The RSI indicator shows that the price is close to the overbought zone, but has not yet entered it.
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