Ethereum is 0.33% higher today at $187.35 as the number two cryptocurrency continues to outperform its peers which most of them as of writing they are trading lower. ETHUSD strong rebound from September 26 lows at $153 stalled at the descending trendline which started in September 2019. Bears tested the $153 lows again at October 25th and managed to rebound sharply after China’s President Xi’s made surprisingly bullish comments on the future of blockchain technology.
Ethereum moved nearly 40% higher in less than two trading sessions since the bullish news broke out, but stalled at the 100-day moving average and retreated lower at the 50-day moving average which proved strong support. Ethereum market capitalisation today stands at 20.37 billion with the trading volume reaching 7.64 billion.
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ETHUSD Resistance and Support
Ethereum seesaws the last two weeks around the 100-day moving average while today as of writing ETHUSD trades above the critical 100-day moving average.
On the downside, immediate support for Ethereum stands at $185.08 daily low, below this level more buying interest might await at 179.75 the 50-day moving average. Breach of that level might refuel the sellers and will open the way for the major support at $152.
On the upside, first resistance for Ethereum now stands at $188.15 today’s high, a convincing close above that level will open the way for a visit at $200 where the ETHUSD stalled late October.
Bitcoin is under selling pressure for one more day and is giving up 0.70% at $8,752.25 with a market cap at 159.18 billion, Litecoin – LTC trades at $61.88 with a market cap at 3.94 billion. The 100 biggest cryptocurrencies market capitalization now stands at 241.49 billion.More content
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