Ethereum continues to garner interest across the cryptocurrency ecosystem. Major news for Ethereum aficionados came recently with New York-based Gemini bitcoin exchange announcing its support for Ether trading.

However, the news seems to have almost negligible effect on ETH price, which continues to trade in narrow range. ETH/USD currently trades at 9.4281 levels at the time of writing.

On the upside, the pair faces major resistance at 10.45 levels and a consistent break above this level would see the pair testing 12.15 levels and then at 13.55 levels.

On the flipside, support is seen at 8.40 levels and a break below could drag the pair to 7.00 levels and further to 5.85 levels.

“Overall trend for ETH/USD appears bullish and slight weakness could be seen only below 7.00 levels”, said FxWirePro in a statement.

Ethereum’s market cap remains rock solid at the second spot around $746 million at the time of writing. In an interview with EconoTimes, Jason Cassidy, Chief Communications Officer at Emercoin, said:

“Personally, I do not think any coin, token or other type of blockchain offering will usurp Bitcoin. It has the first mover advantage and for all of its well publicized shortcomings, Bitcoin has proven to be highly resilient and adaptive…Ethereum is unproven currently so while it has a lot of hype around it and some interesting applications being developed on top of it, the jury is still out. That being said, if any alternative blockchain has a shot at holding that coveted #2 position, it is Ethereum.”