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Bears are returning to the game, according to CoinStats.
ETH/USD
The price of Ethereum (ETH) has fallen by 4.38% since yesterday.
On the hourly chart, the rate of ETH is near the local support of $3,532. If the daily bar closes near that mark, the correction is likely to continue to the $3,500 zone.
On the daily time frame, the picture is bearish as the price is going down after a false breakout of the $3,720 level. If the candle closes near its low, traders may witness a test of the $3,400-$3,450 area soon.
From the midterm point of view, buyers have failed to maintain the growth after the bullish bar closure.
Denys SerhiichukIf the situation does not change by the end of the week, there is a possibility of a test of the $3,200 range.
Ethereum is trading at $3,541 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.
Alex Dovbnya
Dan Burgin
Vladislav Sopov