Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The weekend has started bearish for most of the coins, according to CoinMarketCap.
ETH/USD
The rate of Ethereum (ETH) has dropped by 1.66% over the last 24 hours.
On the hourly chart, the price of ETH has made a false breakout of the local resistance of $3,599. If sellers' pressure continues, the decline may continue to the support of $3,500 by tomorrow.
On the bigger time frame, neither side is dominating as the rate of the main altcoin is within yesterday's candle.
If the situation does not change, sideways trading in the narrow range of $3,500-$3,600 is the more likely scenario.
From the midterm point of view, the rate of ETH has tested the resistance of $3,675. If a breakout happens, the upward move may continue to the vital $4,000 zone.
Ethereum is trading at $3,560 at press time.
Vladislav Sopov
U.Today Editorial Team