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Ethereum price analysis: ETH/USD stuck in a tight range as momentum is fading away
- ETH/USD track the dynamic of general cryptocurrency market.
- Ethereum traders need fresh catalysts to break the deadlock.
Ethereum is moving in lockstep with the rest cryptocurrency market, that is showing signs of recovery after initial sell-off. The global regulators are sending harsh messages as they are determined to clamp down on using crypto co carry out illegal activities.
While these measures are regarded as negative in the short-term, the market will eventually benefit from tighter regulation as it will make it safer, less volatile, and less prone to scams.
Ethereum technical picture
Ethereum price is moving within the tight range limited by $890.00 (long-term downside trendline) on the upside and $856.00 (50% Fibonacci retracement) on the downside. The coin has recovered from the intraday low reached at $845.76, though the upside momentum is not strong enough to take it above the said resistance zone.
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How Many MoneyLive Events Have You Done?
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EXCLUSIVE: “Irish Eyes on London” – Enterprise Ireland in ‘The Paytech Magazine’
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
AutoRek & Microsoft: Why Strategic Partnerships Matter in Finance
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Cathay Pacific Expands Global Partnership with Adyen
Adyen announced the expansion of its longstanding partnership with Cathay Pacific with Adyen now providing direct acquiring services for the airline
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MAS announced the successful conclusion of phase two of Project MindForge[1], which culminates in the publication of an AI Risk Management Toolkit for the financial services sector
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