- Ethereum stays marginally above $200 on Friday trading.
- CEO of Binance announced that ERC20 are restored after shutdown.
ETH/USD is changing hands at $201.33, with little changes in the recent 24 hours. The second largest coin by market value stays continues its rangebound trading as the market is gripped by indecisiveness and apathy.
Meanwhile, Binance, the largest cryptocurrency exchange by trading volume, announced that ERC20 deposits were restored after a shutdown caused by technical issues.
“Funds are #safu. No need to worry. Just an issue when the wallet grows over 1T in size in transactions, it stops working. Most wallets are not designed to handle a large number of addresses and transactions. Working on it,” Changpeng Zhao or CZ, the CEO of Binance tweeted following the announcement.
The community praised the cryptocurrency exchange for the way it handled the situation.
ETH/USD, the technical picture
Critical $200 handle is still unconquered, though the upside momentum is too weak for an extended recovery. The local resistance lies with $204 (SMA50, 4-hour chart), followed by $205.50 (SMA100, 4-hour). DMA50 creates pivotal resistance at $228.
On the downside, a sustainable move below psychological $200 will open the way to $186 (October 11 low).
ETH/USD, 1-hour chart
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