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Bulls are trying to be back in the game on the last day of the week, according to CoinMarketCap.
ETH/USD
The rate of Ethereum (ETH) has risen by 1.86% since yesterday. Over the last seven days, the price has almost not changed.
On the hourly chart, the rate of the main altcoin has made a false breakout of the local resistance of $3,409. If it keeps falling, traders may witness a test of the support of $3,375 by tomorrow.
On the bigger time frame, the situation is neutral as the price is far from the main levels. The volume keeps going down, which means neither buyers nor sellers are ready to seize the initiative at the moment.
Denys SerhiichukIn this case, one should not expect sharp ups or downs shortly.
From the midterm point of view, it is too early to think about a reversal despite the possible bullish weekly closure. If the bar closes around the current prices, ongoing sideways trading is the more likely scenario.
Ethereum is trading at $3,406 at press time.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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