Analytics / Forex and Crypto News
After the formation of a strong support level of $225, Ethereum began to move to the $235 area, but could not overcome it. As a result, the ETH USD pair has been trading sideways over the past week, gradually decreasing to the support level of $225.
Ethereum began the new trading week with growth. The ETH/USD pair overcame the $230 mark and rushed to the upper limit of the weekly range of $235. Now the ETH/USD pair has received intermediate support around $232. This level is a 23.6% Fibonacci retracement rate from growth from $227 to $235.
If the pair ETH/USD rises above $235 and fixes above this level, we will see a quick movement to the area of $240. Above this level, the ETH/USD pair will slow down to $250.
If the bears manage to lower the price of Ethereum below the intermediate support level of $232, the next level of $230 should stop the fall. If the bulls fail to protect the level of $230, there is a risk of a sharp decline. In this case, the support level of $225 will enter the game again.
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