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The market is almost green today, according to CoinStats.
ETH/USD
Ethereum (ETH) is the exception to the rule as its rate has declined by 0.07%.
Depsite today's slight fall, the rate of ETH is looking bullish on the hourly chart. If a breakout of the $4,633 level occurs, growth is likely to continue to the $4,700 zone soon.
On the longer time frame, the picture is neutral as the price of the main altcoin is far from support and resistance levels.
If the situation does not change by the end of the day, sideways trading in the range of $4,500-$4,700 is the most likely scenario.
From the midterm point of view, one should focus on the nearest level of $4,788. Until the rate is below it, there is a chance of witnessing a correction. However, if it breaks out, the accumulated energy might be enough for a test of the $5,000 mark.
Ethereum is trading at $4,590 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team