*ETH/USD remains constant daily, posting a 4 percent growth from the day’s onset
*Market capitalization for Ethereum has dipped to $23 billion, while an estimated daily volume of trading has stabilized at $22.7 billion.
*As said by Ethereum co-founder Vitalik Buterin, after Ethereum 2.0 comes online, the issuance of the ETH would be substantially reduced
ETH/USD Daily Chart
The current trend is bullish as well as notably the RSI retaining the surface beyond 65, ETH/USD may potentially move closer to short-term resistance and initiate a further $220 assault; targeting to overcome the $230 bearish confluence zone. The position of bulls in the pilot seat remains intact amid Thursday’s reversal from the highs.
ETH/USD 4-Hour Chart
On its upside, the bulls’ ride towards another path next at $250 may require a break beyond the horizontal resistance at $230. Other primary regions of support as seen on the 4-hour chart in the near term include the $200 at 50 MA and $166.40 at 200 MA. Nonetheless, investors are inclined to stay bullish towards the cryptocurrency whilst market price is beyond the level of $200.00.
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