Ethereum (ETH) is currently trading slightly above its support zone, and the value of the coin is in a tight range against Bitcoin (BTC). The ETH/USD pair could gain momentum if buyers can stop the value from declining below the $458 mark.
Ethereum Price Today: Current Price of ETH
Ethereum (ETH), the second largest digital currency in world by market cap, is currently trading at $462 after getting to the high of $487 on Monday. The market cap of the digital currency is $47.03 billion and a trading volume of $1.77 billion over the past twenty-four hours.
Ethereum (ETH) Price Analysis
After the digital currency tested the high of $487 on Monday, ETH declined towards its support level at $455. Buyers were able to prevent losses beneath the $458 level, and the digital currency is now trading slightly over the $460 mark.
It is presently trading over the 23.3 percent Fibonacci retracement level of the previous swing form the high of $487 to the low of $458. The value of the coin is in the bullish territory and the 100-hourly SMA. The immediate resistance is at the $470 mark, and a break over this level is required for buyers to gain power.
The Blockchain Sessions of Tech Crunch
The Blockchain Sessions of Tech Crunch will take place in Swiss Zug later today, and it will feature Vitalik Buterin – the founder of Ethereum, and Changpeng Zhao – the CEO of Binance, as keynote speakers. Digital currency traders and enthusiasts are likely to focus on the remarks of these prominent industry leaders.
Considering the recent issues with the Ethereum network congestions and the increase in gas price, the founder of Ethereum may address these technical issues and talk about possible solutions, and this may further influence the value of the digital currency.