ETHUSD (H4): Target $164

Cryptoeconomics

Interest to Bitcoin is not declining

Bitcoin along with the US dollar is in a higher trading range. Little left until January’s maximum of $4180. At the moment, the mark of $3881 serves as the strong support of “digital gold.” Other cryptocurrencies showed a similar “green zone.” The growth leader for yesterday was the EOS coin – it holds around $3.63 with a change of +23.46%. Bitcoin Cash (BCH) also showed good growth dynamics – it is now trading at around $149 with a change of 14.78%.

The level of capitalization is still quite high compared to last week. The mark is now holding at $133 billion. This, in turn, indicates the desire of market participants to continue buying popular cryptocurrencies.

New application to the SEC

Despite the steady growth of cryptocurrencies, the news background was moderate. The message from the Bitwise company which submitted an application to the SEC for the approval of Bitcoin ETF deserves attention. However, Latin America does not lag behind the blockchain technology. It became known that Argentina and Paraguay hosted the first bitcoin payment transaction. The subject of the transaction was export products.

Ethereum (ETH) entrenched in the trading framework of $164 – $133. The first goal that could be achieved by the price chart is resistance at $164. In addition, Ethereum shows signs of the formation of an upward trend, which technically only pushes for growth.

Despite the weakness of the news background, there is still an increase in the fundamental “soil” for the cryptocurrency market.

BTCUSD (H4): weak trading
ETHUSD (H4): Target at $164

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