Analytics / Forex and Crypto News
During 5 days Ethereum manages to hold above the support level of $350 but fails to rise above $360. This level provides Ethereum with enough resistance, and with every attempt to overcome this level, the bears push the price back close to the $350 mark. Moving average 100 is forming at the level of $360, thereby adding resistance to the price. At the time of publication, the pair ETH/USD is trading at around $355.
On the 4-hour chart, a triangle is forming with borders at the $352 and $362 levels. If the pair ETH/USD falls below $352 as part of a downtrend, there is a risk of a bearish breakout. If the bulls do not hold the support level of $350, the pair ETH/USD will drop to the level of $348, below which the bears are likely to aim for more decline towards the $335 support level in coming sessions.
On the other hand, if the pair ETH/USD manages to hold above the support area of $350- $ 352, there is a chance of a break above the upper border of the triangle. In case of growth above the resistance area of $360- $362, the bulls will be able to raise the price to the $365 area. The next major resistance is at $375.
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