U.Today - Bulls keep holding the initiative on the last day of the week, according to CoinMarketCap.
Top coins by CoinMarketCap
ETH/USD
The rate of Ethereum (ETH) has increased by almost 2% since yesterday. Over the last week, the price has risen by 9.70%.
On the hourly chart, the price of ETH has rocketed after a breakout of the local resistance of $2,653.
If the daily bar closes above the aforementioned mark, the upward move is likely to continue to the $2,750 range tomorrow.
On the bigger time frame, the rate of the main altcoin is testing the $2,702 level. If a breakout happens, the accumulated energy might be enough for a test of the $2,800 zone within the next few days.
A bullish picture is also on the weekly chart. If the candle closes around the current prices and with no long wick, there is a chance of ongoing growth to the $2,800-$3,000 area by the end of the month.
Ethereum is trading at $2,702 at press time.
This content was originally published on U.Today
