The market is mainly growing on the first day of the week, according to CoinStats.
ETH/USD
The rate of Ethereum (ETH) has gone up by 1.19% since yesterday.
On the hourly chart, the price of ETH is on its way to the local resistance of $4,343. If buyers’ pressure continues, one can expect a test of the resistance by tomorrow.
On the longer time frame, the rate of the main altcoin has made a false breakout of yesterday’s bar peak.
However, if the bounce back does not happen, sellers may seize the initiative, which may lead to a drop to the $4,200 area.
From the midterm point of view, one should focus on the weekly candle closure in terms of the $4,332 level. If it breaks out, the accumulated energy might be enough for a move to the $4,500 mark.
Ethereum is trading at $4,290 at press time.
