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The last day of the week is about to be neutral for the cryptocurrency market as some coins keep rising while others have faced correction.
ETH/USD
The rate of Ethereum (ETH) keeps rising, going up by almost 3% since yesterday.
On the local time frame, Ethereum (ETH) is approaching the resistance level at $1,778. Even though the daily ATR has passed, a closure near $1,780 can be a prerequisite for a squeeze to $1,800 soon.
On the bigger chart, the situation is also bullish as the candle is about to close near yesterday's peak at $1,789. If that happens and sellers cannot seize the initiative, there is a high chance to see a test of the mirror level at $1,819 shortly.
The weekly chart confirms the bullish midterm trend as the candle has a good chance to close above the vital $1,721 level. However, one should not expect further sharp growth as the leading altcoin might need more time to get power for a continued move.
Ethereum is trading at $1,772 at press time.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin