Most coins are facing a bounce back on the last day of the week, according to CoinMarketCap.
ETH/USD
The price of Ethereum (ETH) has increased by 4.72% over the last 24 hours.
On the hourly chart, the price of Ethereum is making its way back towards the $3,327 resistance level it formed recently. If the daily bar ends up closing in this vicinity, there may be enough accumulated momentum for a surge past the $3,400 mark.
Bulls are also powerful on the bigger time frame. At the moment, one should focus on the daily bar.
If the candle forms with a narrow range around its current price and short wicks, it’s possible that Bitcoin’s price may continue climbing towards the $3,400 to $3,500 area.
Based on the midterm perspective, it may be premature to consider a bull market rally if the weekly chart surpasses its previous peak. Instead, it’s more probable that the price will move sideways between $3,300 and $3,500 for the upcoming week.
Ethereum is trading at $3,310 at press time.
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2024-04-28 18:41