According to CoinMarketCap, the bears are in control over the weekend.
ETH/USD
Ethereum (ETH) rate has fallen by 1.03% in the past 24 hours.
On the hourly chart, ETH price is closer to support levels than resistance levels. If the daily chart ends near $3,131, the decline could soon continue to the $3,100 zone.
A similar situation can be seen on larger time frames. If a breakout of the $3,000 area occurs, the accumulated energy could be enough to test the support at $2,857.
Such a scenario will be relevant until the end of the month.
From a medium-term perspective, we should pay attention to the closing price of the weekly candlestick at $2,857. If a false breakout occurs, buyers could take control and a rebound to the $3,000-$3,200 range is possible.
At the time of writing, Ethereum is trading at $3,174.
