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The rates of most of coins are going up today, according to CoinStats.
ETH/USD
The price of Ethereum (ETH) has increased by 1.24% since yesterday.
On the hourly chart, the rate of ETH has made a false breakout of the local resistance at $3,003. If the daily candle closes far from that mark, there is a chance to see an ongoing decline to the $2,925 support.
On the longer time frame, none of the sides is dominating as the price of the main altcoin is far from key levels.
Thus, the volume is low, which means traders might not see sharp moves soon. All in all, sideways trading in the range of $2,950-$3,000 is the most likely scenario.
From the midterm point of view, the picture is similar. The rate of ETH is in the middle of a wide channel, between the support at $2,624 and the resistance at $3,447. As neither buyers nor sellers have seized the initiative, traders may witness consolidation in the zone of $2,800-$3,200 over the next few weeks.
Ethereum is trading at $2,978 at press time.
Denys Serhiichuk
Gamza Khanzadaev
Godfrey Benjamin
Tomiwabold Olajide