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Some coins are already trading in the red zone, according to CoinStats.

ETH/USD

The price of Ethereum (ETH) has grown by 1% over the last 24 hours.

On the hourly chart, the rate of ETH might have set a local resistance level at $3,970. If the daily candle closes far from that mark, the drop is likely to continue to the support at $3,908. Such a scenario is relevant until tomorrow.

On the daily time frame, the price of the main altcoin is once again trying to fix above the recently formed level of $3,940. If that happens, the rise may lead to a test of the important area of $4,000 shortly.

From the midterm point of view, bulls are not facing any pressure from bears despite the recent sharp growth. At the moment, one should focus on the nearest zone of $4,000.

If a breakout happens, it might be a prerequisite for a further upward move to $4,100-$4,200.

Ethereum is trading at $3,936 at press time.