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Ethereum {ETH} sets new milestone in the field of Decentralized Finance; buyers await arrival of opportune moment

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Ethereum is the second-most renowned crypto-project in the ecosystem, however, from time to time it still receives hate from BTC maximalists, XRP enthusiasts, EOS HODLers and so on.

The demand of Ether in this field is something none can deny. In spite of TRON, EOS, and various ventures trying hard to topple $ETH from the #2 position, this is the greatest example of their combined failure.

Ethereum is ranked at #2 ahead of XRP in the market. The trading volume recorded stands at roughly $10.555 billion, while the supply has 108,312,760 ETH coins in play as of this very moment. The total market cap of Ethereum is $19.445 billion for now. The price plunged at a rate of 2.89% in the course of the past 24-hours; this, in turn, resulted in $ETH dipping all the way down to the $179.53 mark after Ether had successfully soared beyond $200 a day ago.

In accordance with the candlestick chart linked to the ETH/USD pair on tradingview [based on the data obtained from the Bitstamp Exchange], this digital currency is currently being swayed by sellers prevailing within the market. The mark of resistance at $198.97 is yet to be broken [it was newly established yesterday], and support can be felt if Ether declines and heads towards $153.67.

Post-24th October, the peaks tied to the Awesome Oscillator all possessed the green shade. Although they were formed underneath the zero line, this indicates that bullish momentum may return brought about by fresh buyers in November. Similarly, the MACD line soared above the signal line since 26th October, causing the histogram to switch sides and change color [from red to green].

The daily RSI [for 14 periods] is at 51.63 which points to $ETH lying deep within the neutral zone.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.