The prices of some coins keep rising, while others have returned to the red zone, according to CoinMarketCap.
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The rate of Ethereum (ETH) has almost remained the same since yesterday. Over the last week, the price has risen by 9.61%.
Image by TradingView
On the hourly chart, the price of ETH has made a false breakout of the local support level of $3,483. If the daily bar closes near it, one can expect a blast to the $3,450 zone shortly.
Image by TradingView
On the bigger time frame, one should pay attention to the nearest level of $3,547. If a breakout happens, the accumulated energy might be enough for a continued upward move to the $3,600-$3,700 range.
Image by TradingView
From the midterm point of view, bulls are trying to hold the gained initiative.
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If the weekly candle closes around the current prices, traders may witness a further rise by the end of the month.
Ethereum is trading at $3,502 at press time.
