According to CoinStats, most coins are increasing in rate today.
ETH/USD
Ethereum (ETH) price has increased by 1.24% since yesterday.
On the hourly chart, the ETH rate accidentally broke through the local resistance at $3,003. If the daily candlestick closes far from that mark, a sustained fall to the support at $2,925 is possible.
On longer time frames, neither side has the upper hand as the prices of major altcoins are far from their major levels.
Therefore, volume may be low and traders may not see sudden movements immediately. Overall, trading sideways in the $2,950 to $3,000 range is the most likely scenario.
The situation is similar from a medium-term perspective. ETH rate is in the middle of a wide channel between support at $2,624 and resistance at $3,447. With neither buyers nor sellers in control, traders could witness a consolidation in the $2,800-$3,200 zone in the coming weeks.
At the time of writing, Ethereum is trading at $2,978.
