According to CoinStats, most coin prices are rising on the first day of the weekend.
ETH/USD
Ethereum (ETH) rate has increased by 3.49% in the past 24 hours.
On the hourly chart, ETH price is in the middle of a local channel between support at $3,819 and resistance at $3,927.
With major altcoin rates far away from key levels, we are unlikely to see any sharp moves by tomorrow.
Looking at the larger time frame, the situation is more bearish than bullish. The ETH rate is closer to support than resistance levels. In case of a breakout of the $3,694 mark, the correction is likely to continue into the $3,500 range.
From a medium-term perspective, neither the bulls nor the bears have the upper hand. In this case, traders should focus on the $4,000 interim zone. If a breakout occurs, the accumulated energy could be enough to further significantly correct the $3,000 to $3,200 area.
At the time of writing, Ethereum is trading at $3,872.
