The weekend has started mainly bullish for the market, however, there are some exceptions, according to CoinMarketCap.
Top coins by CoinMarketCap
ETH/USD
The rate of Ethereum (ETH) has risen by 0.12% over the last day.
Image by TradingView
On the hourly chart, the price of ETH has made a false breakout of the local support of $2,522. If the daily bar closes near that mark, one can expect a more profound drop to the $2,500 zone.
Image by TradingView
On the bigger time frame, the picture is also more bearish than bullish.
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If the candle closes around the current prices or below and with no long wick, traders may witness a test of the $2,300-$2,400 range over the next few days.
Image by TradingView
From the midterm point of view, the rate of ETH has bounced off the resistance of $2,857. If the weekly bar closes far from that mark, bears may be back in the game, which may lead to a drop to the $2,400 range.
Ethereum is trading at $2,538 at press time.
