Bulls are not able yet to seize the initiative, and all of the top 10 coins remain in the red zone, according to CoinMarketCap.
ETH/USD
The rate of Ethereum (ETH) has declined by 4% over the last 24 hours.
On the hourly chart, the price of ETH is about to break the local resistance of $3,068. If that happens, the upward move is likely to continue to the $3,100 zone by tomorrow.
On the longer time frame, the rate of the main altcoin has made a false breakout of yesterday’s bar’s low of $2,959.
You Might Also Like
If bulls can hold the gained initiative and the candle closes far from that mark, traders may expect a test of the $3,100-$3,150 range soon.
From the midterm point of view, the situation is similar. If the breakout of the support level happens, the accumulated energy might be enough for a more profound drop to the $2,800-$2,900 range.
Ethereum is trading at $3,065 at press time.
Source link