Bears have failed to hold the initaitive, according to CoinMarketCap.
ETH/USD
The rate of Ethereum (ETH) has risen by 1.42% over the last 24 hours.
On the hourly chart, the price of the main altcoin is looking bullish as it is trying to break the local resistance of $3,591. If the daily bar closes above that mark, the growth may continue to the $3,650 zone.
On the bigger time frame, one should focus on the candle closure in terms of the level of $3,677. If the rise continues to it, there is a high chance to see a breakout, followed by a blast to $3,800 soon.
From the midterm point of view, it is too early to make any distant predictions as a few days remain until the bar’s closure. Thus, the rate is far from key levels, which means that none of the sides is ready for a sharp move.
All in all, ongoing consolidation in the area of $3,400-$3,800 is the more likely scenario for the next days.
Ethereum is trading at $3,595 at press time.
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