The value of ether, ethereum’s native token, is on a roll.
Quickly ahead of press time, the ether-U.S. dollar (ETH/USD) exchange rate had reached a fresh all-time higher of $444. As per CoinMarketCap, the world’s second largest cryptocurrency has appreciated by 11 % in the final 24 hours.
Total trading volume jumped to $1.845 billion yesterday – the highest considering that Sept. 15. A higher volume rally indicates strong hands are at play and far more records could be set more than the weekend.
Again, South Korean desks are firing on all cylinders. Volumes in the ETH/KRW pair offered by Bithumb, one particular of the biggest cryptocurrency exchanges in the nation, have gone up by 13.57 % nowadays.
The price action evaluation indicates scope for a rally to $460-$470 levels in the quick-term.
The chart above shows:
The above chart shows:
Ether appears set to test resistance levels of $465.90-$480 and could extend the rally to $500 levels in quick-term.
Technical pullbacks, if any, are likely to be brief-lived. Only a sustained move beneath the 10-day MA would signal the rally has run out of steam.
Rollercoaster image through Shutterstock
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Disclaimer: This post must not be taken as, and is not intended to provide, investment suggestions. Please conduct your own thorough analysis prior to investing in any cryptocurrency.
Published at Fri, 24 Nov 2017 14:05:51 +0000