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The market keeps growing on the first day of the week, according to CoinStats.
ETH/USD
The price of Ethereum (ETH) has increased by 2.18% since yesterday.
On the hourly chart, the rate of ETH is on its way to the local support of $4,133. If its breakout occurs, the fall may continue to test the $4,100 range.
On the longer time frame, the price of the main altcoin is looking bearish as the candle is about to close far from its peak.
If buyers cannot seize the initiative, one can expect a test of the $4,050-$4,100 area soon.
From the midterm point of view, the rate of ETH is far from the key levels. The volume is low, which means none of the sides is ready for a sharp move. In this case, sideways trading in the zone of $4,100-$4,400 is the most likely scenario.
Ethereum is trading at $4,132 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team