Ethereum trades minus 0.1% with sellers around the developing value area high of the VWAP structure on the intra-day perspective. The level is confluent with the previous POC close level.
The rate against the dollar might be targeting the lower DVAL level as rotational play to find new buyers. The VWAP could serve as line of support as there is seemingly buying interest around a prior distribution's mean on the daily periodicity which could load up higher to move above the mentioned POC for absorption purposes. A daily uptick close may be serving as a bullish factor for some market participants.
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.