U.Today - Bulls are becoming more powerful, according to CoinStats.
ETH chart by CoinStats
ETH/USD
The price of Ethereum (ETH) has gone up by 0.25% since yesterday.
On the hourly chart, the rate of ETH has made a false breakout of the local resistance of $2,639. If the bar closes far from it, there is a chance to expect a correction to the $2,600 zone.
On the bigger time frame, buyers can start thinking about further growth only if they restore the rate to the level of $2,699.
If that happens, the energy might be enough for a move to the $2,800-$2,900 range.
A less positive picture can be seen on the weekly chart. If the candle closes far from its high, traders may witness a drop to the $2,400-$2,500 zone.
Ethereum is trading at $2,610 at press time.
This content was originally published on U.Today
