Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

A further market decline can be postponed, according to CoinMarketCap.

ETH/USD

The price of Ethereum (ETH) has risen by 0.83% since yesterday.

Despite today's growth, the rate of ETH is looking bearish on the hourly chart. If the daily bar closes below the local support level of $2,973, bears may again seize the initiative, which can lead to a drop to the $2,900 zone.

Bulls could not keep the rise going after yesterday's bullish closure. If the situation does not change by the end of the day, there is a chance to see a test of the support of $2,852 until the end of the week.

From the midterm point of view, none of the sides is dominating as the price is far from the main levels. 

However, if buyers lose the $2,900 zone, the accumulated energy might be enough for a breakout, followed by a move to the $2,600-$2,700 range.

Ethereum is trading at $2,957 at press time.