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According to CoinStats, the final day of the week is more bearish than bullish.
ETH/USD
The price of Ethereum (ETH) has risen by around 2% over the past day.
On the hourly chart, the rate of ETH is looking bullish as it has broken out above the local resistance level at $3,816. If the buyers can maintain the gained initiative, the upside can quickly continue to the $3,850 to $3,900 zone.
On the daily chart, the closest level at $3,841 is worth keeping an eye on. If the bar closes above this level and there is no long wick, the accumulated energy could be enough for a continued rise to $3,950.
Ethereum (ETH) price has almost reached the resistance at $3,993. However, buyers may need more time to build up energy for a further upside. In this case, a sideways trade in the $3,700 to $3,900 range is the more likely scenario.
At the time of writing, Ethereum was trading at $3,820.
About the Author
Denis Serhiychuk
