- Cardano (ADA) gives up $1.30
- Polkadot (DOT) is trading around $26
- Ethereum (ETH) holds $3,000
The Kazakhstan crisis continues to weigh on the cryptocurrency market, where internet and supply outages are still in effect, triggering a problem for miners. Therefore, we have the Bitcoin
trading around $42,000 after staying yesterday at the gates of the psychological level of $ 45,000, so we will be attentive to the lows of last week.
Next, Ethereum (ETH) is trading above the psychological barrier of $3,000, once the demand could not continue with the recovery towards the area of 3,600 dollars, a level lost after the problems in the Central Asian country.
On the other hand, Cardano (ADA) tried to cling to the psychological level of $1.30, but it has been deflating in the last few hours due to the lack of purchases that boost the consolidation of said point, therefore we could see an approach to the weekly lows.
Dogecoin (DOGE) is trading today Friday around $0.18, after bouncing more than 18% after Elon Musk tweeted the acceptance of the cryptocurrency as a means of payment in Tesla, a situation that has triggered a shot in the price of Dogecoin, approaching $0.21.
On the other hand, Chainlink (LINK) is trading on the edge of $24 today Friday, once it moved away from the lows of December, when the market left a support reference around 15 dollars. Therefore, if the cryptocurrency manages to settle above $23.23, it is likely to look for the next resistance located at $28.
Similarly we have Polkadot (DOT), trading above $26.00 after losing more than 50% from its all-time highs. However, the cryptocurrency remains trading in a wide trading range, with the possibility of approaching the $23 support if selling prevails.
Finally, Uniswap (UNI) is trading in a sideways range after hitting the $20 barrier again, although given the selling pressure, the price of Uniswap could test the 15 dollars, annual minimum.
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How could you trade Ethereum? Example of operation
The volatility we see in Ethereum can offer excellent trading opportunities. Below, I offer an example of how we could trade the security with CFDs, which in no case should be considered as investment advice.
In the event of the first scenario occurring, we would opt for a buying strategy at a price of 3400 dollars with the contract of 1 euro per point (each increase or decrease in price we gain or lose 1 euro) and our stop would be at 3000 dollars.
On the other hand, if we opt for the second strategy, and we go on sale at a price of $3,000 with the 1 euro per point contract, we could put the stop level at $3,350. Therefore, trading on Ethereum has a leverage of 1:2 (50% margin), as established by the regulator ESMA
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Bitcoin remains at the gates of the 45,000 dollars pending from Kazakhstan