The weekend has started with a continued market correction, according to CoinMarketCap.CoinMarketCap”>

ETHUSD

Ethereum ETHUSD has lost a lot of value today, falling by 3.64%.TradingView”>

On the hourly chart, the rate of ETH has made a false breakout of the local resistance of $3,535. However, one should focus on the daily bar closure.

If bulls seize the initiative and restore the price to the aforementioned mark, there is a high chance of a breakout, followed by a move to the $3,600 area.TradingView”>

On the bigger time frame, the price of the main altcoin has once again made a false breakout of the support of $3,458. The picture remains bearish as the rate has not bounced off far from the level. If sellers’ pressure continues, one can expect a drop to the $3,300-$3,400 range.TradingView”>

From the midterm point of view, bulls have failed to maintain the rise after the previous bar closure. If the candle closes below $3,500, the correction may lead to a test of the $3,000 area.

Ethereum is trading at $3,499 at press time.