Leading analyst Michael Van de Poppe said that volatility in the virtual currency market is somewhat low. According to him, this is necessary for successful trading. He also discussed the important price level of the cryptocurrency Ether (ETH).
The founder and CEO of Eight, who is also a trader, revealed that Ethereum is trading at $1208.29 on the charts. According to him, there are two scenarios The expert assured that he had set both a sell order and a stop loss, considering the range in which Ethereum’s value exists.
According to the expert, the target is $1268.45, but if the market price of the second largest virtual currency by market capitalization begins to fall, it will automatically be sold at $1148.46.
According to van de Poppe, the specialist expects a positive scenario for the ETH exchange rate. The specialist is confident: the chart will test at least about $1,270 before the downward movement begins.
Analysts also assured that the likelihood of a positive outcome is high. The fact is that very good signals came from traditional markets. However, the indices are still very weak (e.g. DXY) and therefore no follow-through was indicated.
As of 1:40 p.m. Moscow time on December 21, 2022, the virtual currency Ethereum (ETH) was trading at $1,216, with a market capitalization of $148.86 billion for digital assets. The coin was up 0.6% over the past 24 hours, but down 8.04% week-to-date.
Traders secured $5.35 billion worth of virtual currency trades in the past 24 hours. This figure is down 16% over the past 24 hours.
Bitcoin (BTC), the leading cryptocurrency, also rose slightly. It traded at $16, 877, up 0.45% from yesterday. All results could not be downloaded. Repeated retries…