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According to CoinMarketCap, most coins are facing a rebound on the last day of the week.
ETH/USD
Ethereum (ETH) price has increased by 4.72% in the past 24 hours.
On the hourly chart, the ETH rate is moving back towards the recently formed resistance level at $3,327. If the daily chart closes around there, the accumulated energy could be enough to break out of the $3,400 range.
The bulls are also strong on larger time frames. For now, we need to focus on the daily chart.
If the candlestick closes around the current price without a long wick, a further rise to the $3,400-$3,500 zone is possible.
From a medium-term perspective, it is too early to consider a bull market, even if the weekly candlestick closes above the previous candlestick high. In this case, the likely scenario is that next week he trades sideways in the $3,300 to $3,500 zone.
At the time of writing, Ethereum is trading at $3,310.
About the author
Denis Selhychuk
