According to Coinmarketcap, the market continues to rise over the weekend.
ETH/USD
Ethereum (ETH) prices rose 1.3% on the last day.
On the hourly chart, we made a false breakout of local resistance with ETH speed of $4,558. If the daily bar is far from that level, the Bears could seize the initiative, which could fix it to a support level of $4,450.
For a longer time frame, the focus should be on daily bar closures, from a level of $4,516.
If the candle is closed with a long wick, traders may witness a reduction in the $4,400 to $4,500 range over the next few days.
From a medium-term perspective, the main altcoin rate is in the middle of the channel, between $4,166 in support and $4,788 in resistance. As neither side of the aspect is dominated, the scenario is likely to be a continuous horizontal trading, centered around current prices.
Ethereum trades at $4,515 at press time.
