u.today
The weekend has started with a correction on the cryptocurrency market as most of the coins are in the green zone again.
ETH/USD
Unlike other digital assets, Ethereum (ETH) keeps falling, going down by 2.75%.
ETH/USD chart by TradingView" src="https://cnews24.ru/uploads/2f0/2f05f9b1a6e9795cc9b4f990cdb4c217ccefb410.png" size="1818x889">
On the hourly time frame, Ethereum (ETH) has made a false breakout of the support level at $1,418 against the increased volume. If buyers can hold this zone, there is a chance to see a test of the resistance at $1,435 shortly.
ETH/USD chart by TradingView" src="https://cnews24.ru/uploads/d5e/d5ed4639900108623e2674f42ee9d900bbc657b8.png" size="1818x889">
On the daily chart, Ethereum (ETH) is looking bearish as the price is very close to the support level at $1,422. If the candle closes below it, it might a reason for a sharp drop to the $1,400 area next week.
ETH/USD chart by TradingView" src="https://cnews24.ru/uploads/6b0/6b0cae4be3e0e44294cb84d1f4411c58ac05a3f0.png" size="1818x889">
The situation is similar on the weekly chart as Ethereum (ETH) is likely to close below the psychological $1,500 mark. Respectively, the upcoming week might also be bearish for the main altcoin, so traders can expect to see a decline to the $1,356 mark.
Ethereum is trading at $1,426 at press time.