According to CoinMarketCap, sellers are looking to get back into the game over the weekend.
ETH/USD
The Ethereum (ETH) rate has increased by 1.80% since yesterday. Last week, the price fell by 10.62%.
On the hourly chart, ETH price is near the local resistance at $3,464. If a breakout occurs, the bull market is likely to continue to the $3,500 level.
Looking at the larger time frame, the outlook is also bullish. Traders should keep an eye on the daily closing price at the $3,480 level.
If the bar closes beyond that and there is no long wick, the accumulated energy could be enough to grow further into the $3,600 to $3,700 range.
From a medium-term perspective, the situation is not very favorable for buyers. The prices of major altcoins are far away from their support and resistance levels, which means that neither side is ready for further moves. In this case, a more likely scenario is trading sideways in the $3,400 to $3,800 zone.
At the time of writing, Ethereum is trading at $3,485.
