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The weekend has started with a correction of some coins, according to CoinMarketCap.
ETH/USD
The price of Ethereum (ETH) has increased by 1.60% over the last day.
On the hourly chart, the rate of ETH is in the middle of the local channel, between the support of $3,578 and the resistance of $3,726.
Denys SerhiichukAs most of the ATR has been passed, any sharp moves are unlikely to happen by the end of the day.
On the bigger time frame, one should pay attention to the bar closure in terms of the $3,684 level. If a false breakout happens, traders may witness a drop to the $3,500-$3,600 range soon.
From the midterm point of view, there are no reversal signals so far. However, the rate of the main altcoin is far from the key levels. In this case, sideways trading in the area of $3,500-$3,800 is the more likely scenario.
Ethereum is trading at $3,668 at press time.
Alex Dovbnya
Dan Burgin
Vladislav Sopov