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Most coins are facing a bounce back on the last day of the week, according to CoinMarketCap.
ETH/USD
The price of Ethereum (ETH) has increased by 4.72% over the last 24 hours.
On the hourly chart, the rate of ETH is returning to the recently formed resistance level of $3,327. If the daily bar closes near it, the accumulated energy might be enough for a breakout to the $3,400 range.
Bulls are also powerful on the bigger time frame. At the moment, one should focus on the daily bar.
Denys SerhiichukIf the candle closes around the current prices and with no long wicks, there is a chance to see a further upward move to the $3,400-$3,500 zone.
From the midterm point of view, it is too early to think about a bull run even if the weekly bar closes above the previous candle peak. In this case, sideways trading in the zone of $3,300-$3,500 is the more likely scenario for the next week.
Ethereum is trading at $3,310 at press time.
Yuri Molchan
Tomiwabold Olajide
Dan Burgin
U.Today Editorial Team
Vladislav Sopov