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The market is totally red at the end of the week, according to CoinStats.
ETH/USD
The rate of Ethereum (ETH) has declined by almost 2% over the last 24 hours.
On the hourly chart, the price of ETH has made a false breakout of the local resistance of $3,976. However, if the daily bar closes around that mark, traders may expect a test of the $4,000 zone by tomorrow.
On the longer time frame, the rate of the main altcoin has entered a bearish area after breaking the $4,107 level.
Until the price is below that mark, sellers keep controlling the situation on the market. In this case, one can expect a further decline to the $3,700-$3,800 range.
From the midterm point of view, one should focus on the weekly candle's closure in terms of the $4,107 level. If it happens below it, the correction is likely to continue to the $3,600 mark.
Ethereum is trading at $3,937 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team