The weekend has started neutral as some coins are rising while the rates of others are falling.
ETH/USD
Ethereum (ETH) remains in the green zone, going up by 0.37% over the last 24 hours.
Despite the rise, the price has broken the local support level of $1,578. If buyers cannot return it to the channel, one can expect a further drop to the $1,550 zone shortly.
On the daily time frame, the rate is slowly approaching the support level at $1,533 against declining volume. Currently, one should pay attention to the interim level at $1,600, as it plays a key role in terms of further growth. If bulls fail to restore the price, the drop may lead to a test of the $1,480-$1,520 zone.
On the bigger time frame, the price is in the wide channel, which means that ongoing sideways trading in the range of $1,550-$1,650 is the more likely scenario.
Ethereum is trading at $1,573 at press time.
Godfrey Benjamin
Alex Dovbnya
Arman Shirinyan