Ethereum

mirror

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Neither bulls nor bears are dominating today, according to <a href="https://u.today/binance-coin-bnb-price-analysis-for-december-6" rel="noopener noreferrer nofollow">CoinMarketCap</a>. <img data-entity-type="file" data-entity-uuid="9ed69117-e578-44c4-949d-b019e7185953" src="https://u.today/sites/default/files/inline-images/top10_817.png">Top coins by<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow"> CoinMarketCap</a>
<h2 class="text-align-justify" id="eth-usd">ETH/USD</h2>
The price of Ethereum (ETH) has fallen by 0.50% over the last day. <img data-entity-type="file" data-entity-uuid="7fbd7c13-72c3-4ed8-a74c-1856091238c8" src="https://u.today/sites/default/files/inline-images/eth1_99.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ETHUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the rate of ETH is in the middle of the local channel, gathering energy for a further move.&nbsp;
As most of the daily ATR has been passed, ongoing sideways trading in the area of $2,240-$2,260 is the more likely scenario until the end of the day. <img data-entity-type="file" data-entity-uuid="80149b06-89f4-498c-bfad-32404bfa3ce7" src="https://u.today/sites/default/files/inline-images/eth2_104.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ETHUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the daily time frame, one should pay attention to the recently formed resistance level of $2,310. Until the rate comes back to this mark, there is a chance to see a further drop. <img data-entity-type="file" data-entity-uuid="5ac70669-db01-4b2d-9300-130bd0c41e3c" src="https://u.today/sites/default/files/inline-images/eth3_94.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ETHUSD" rel="noopener noreferrer nofollow">TradingView</a>
From the midterm point of view, traders should focus on the candle closure in terms of the mirror level of $2,300. If the bar closes far from it, the correction may continue to the $2,150-$2,200 zone.
Ethereum is trading at $2,259 at press time.

Ethereum (ETH) Price Analysis for December 7

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