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The market remains mainly bullish in the middle of the week, according to CoinMarketCap.
ETH/USD
The rate of Ethereum (ETH) has gone up by 1.39% over the last 24 hours.
On the hourly chart, the price of ETH is rising after a bounce back from the local support of $3,570. If buyers' pressure continues, there is a high chance of seeing a test of the upper level by tomorrow.
On the longer time frame, the rate of the main altcoin is within yesterday's bar.
The volume is low, which means traders are unlikely to expect sharp moves over the next few days.
From the midterm point of view, the price of ETH is within the previous weekly bar. If the situation does not change by the end of the week, sideways trading in the range of $3,400-$3,800 is the most likely scenario.
Ethereum is trading at $3,625 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team