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The correction has not lasted long, and prices of the majority of the cryptocurrencies are rising today, according to CoinStats.
ETH/USD
The rate of Ethereum (ETH) has increased by 0.56% over the last day.
On the hourly chart, the price of ETH is in the middle of a narrow channel. As most of the daily ATR has been passed, there is little likelihood of any sharp moves by the end of the day.
On the bigger time frame, the rate of the main altcoin is far from important levels. If buyers want to get back in the game, they need to restore the price to at least the interim zone of $2,700.
Denys SerhiichukIf that happens, there might be a possibility to see a test of the resistance of $2,799 soon.
On the weekly chart, the situation is similar to the daily time frame. If the price gets back to the $2,780 level, traders may witness a blast to the $3,000 range.
Ethereum is trading at $2,616 at press time.
Tomiwabold Olajide
Vladislav Sopov
Dan Burgin