According to CoinStats, today’s market is primarily green.
ETH/USD
Ethereum (ETH) was one of the biggest gainers today, rising 3.77%.
On the hourly chart, the ETH rate may have set local support at $3.158. If the daily chart closes around that mark, the decline is likely to continue into the $3,100 range.
Looking at the longer time frame, the price of the major altcoins failed to cross the $3,230 level again.
If the candlestick closes far away from that mark, the bears could take control and could test the $3,100 zone by the end of the week.
From a medium-term perspective, we should keep an eye on the weekly close at the $3,233 level. If the bulls are able to hold on to the initiative they have gained and the candlestick closes near or above that mark, the accumulated energy could be enough to continue the rally into the $3,300 to $3,400 range.
At the time of writing, Ethereum is trading at $3,155.
