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- The ETH / USD must recover over $ 100.00 to mitigate downward pressure.
- CFTS wants feedback on cryptocurrencies.
ETH / USD is changing hands at $ 87.60. Money is marginally lower on a daily basis as traders are trying to figure out where to start. The third largest currency with a market capitalization of $ 9.4 billion is dominated by bearish feelings that have gripped the global cryptocurrency market.
CFTS is asking for Ether
The Commodity Futures Trading Commission is seeking public feedback on digital currencies such as Ether, according to the statement published Tuesday by the agency.
What the Commission is to better understand the mechanisms for virtual currencies other than Bitcoin and to differentiate opportunities, challenges and risks in balance with cryptocurrencies like Ether.
"In an information request (RFI) to be published in the Federal Register, the CFTC asks for public feedback on a series of questions related to underlying technology, opportunities, risks, mechanics, use cases and markets related to Ether and the Ethereum network ", states the statement.
Comments are accepted within 60 days of publication in the Federal Register.
Technical framework of Ethereum
On the daily chart, ETH / USD is supported by the bottom line of the Bollinger Band currently at $ 83.50. Once broken, the downside can be extended to the recent low of $ 82.15. A sustainable move under $ 80.00 psychological will pave the way for a larger collapse with $ 50.00 in focus.
On the upside, $ 100.00 remains the key obstacle. A strong move above this level is necessary to create a positive momentum with the next target at $ 105.71 (the median line of the Bollinger Band (daily chart). However, the daily RSI (Relative Strength Index) it remains flat in the oversold territory, which implies that the recovery is not yet under way.
ETH / USD, the daily chart
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