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Most of the coins are going up after a correction, according to CoinStats.
ETH/USD
The rate of Ethereum (ETH) has gone up by 1.36% since yesterday.
On the hourly chart, the price of ETH is bearish as it is near the local support of $3,983. If bulls cannot seize the initiative, the fall is likely to continue to the $3,950 area.
On the bigger time frame, the picture is neither bullish nor bearish as the rate is within yesterday's bar. The volume is declining, which means neither side has enough strength for a sharp move.
All in all, sideways trading in the area of $3,900-$4,100 is the more likely scenario.
From the midterm point of view, traders should pay attention to the weekly bar closure in terms of the mirror level of $4,107. If it happens around the current prices or below, the decline may continue to the $3,600-$3,800 zone.
Ethereum is trading at $3,989 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team