U.Today - The cryptocurrency market remains bullish today as well, according to CoinStats.
ETH/USD
The price of Ethereum (ETH) has risen by 2.4% over the last 24 hours.
On the hourly chart, the rate of ETH is near the local support of $2,645. If its breakout happens, the correction is likely to continue to the $2,600 range by tomorrow.
On the bigger time frame, the situation has changed to bearish. If the daily bar closes around current prices or below, traders may witness a test of the support of $2,562 by the end of the week.
From the midterm point of view, the rate of the main altcoin is in the middle of a wide range, between the support of $2,132 and the resistance of $3,028.
As neither bulls nor bears are dominating, ongoing sideways trading in the area of $2,400-$2,800 is the most likely scenario by the end of the month.
Ethereum is trading at $2,636 at press time.
This content was originally published on U.Today
