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Sellers are trying to return to the game at the end of the week, according to CoinMarketCap.
ETH/USD
The rate of Ethereum (ETH) has risen by 1.80% since yesterday. Over the last week, the price has fallen by 10.62%.
On the hourly chart, the price of ETH is near the local resistance of $3,464. If a breakout happens, the upward move is likely to continue to the $3,500 mark.
On the bigger time frame, the picture is also bullish. Traders should focus on the daily bar closure in terms of the $3,480 level.
If the bar closes above it and with no long wick, the accumulated energy might be enough for further growth to the $3,600-$3,700 range.
From the midterm point of view, the situation is not so positive for buyers. The price of the main altcoin is far from the support and resistance levels, which means neither side is ready for a further move. In this case, sideways trading in the zone of $3,400-$3,800 is the more likely scenario.
Ethereum is trading at $3,485 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team