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There are no reversal signals on the market so far, according to CoinStats.
ETH/USD
The price of Ethereum (ETH) has declined by 3.52% since yesterday.
On the hourly chart, the rate of ETH is rising after a bounce back from the local support of $3,474. If the daily bar closes near the resistance, the upward move is likely to continue to the $3,700 range.
On the longer time frame, the price of the main altcoin is on its way to the support of $3,354.
If bulls cannot seize the initiative, one can expect an ongoing drop to the $3,300-$3,400 area.
From the midterm point of view, the situation is similar. If a breakout of the $3,354 level happens, the accumulated energy might be enough for a further decline to the $3,000 zone.
Ethereum is trading at $3,553 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team