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The weekend has started with a market correction, according to CoinMarketCap.
ETH/USD
The rate of Ethereum (ETH) has fallen by 1.68% over the last 24 hours.
On the hourly chart, the price of ETH is testing the local support of $2,932. If a breakout happens, the fall is likely to continue to the $2,900 zone by tomorrow.
On the bigger time frame, the rate of the main altcoin is within yesterday’s candle, which means neither side is dominating.
If the situation does not change, ongoing sideways trading around the current prices is the more likely scenario.
From the midterm point of view, the picture is more bullish. If the weekly bar closes above the $2,857 mark, the growth may continue to the $3,000-$3,100 range until the end of the month.
Ethereum is trading at $2,937 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team