Bulls are back in the game, according to CoinStats.
ETH chart by CoinStatsETH/USD
The rate of Ethereum (ETH) has increased by 5.42% over the past 24 hours.
Image by TradingView
On the hourly chart, the price of ETH is trading near the local resistance of $2,442. If it breaks out, the accumulated energy might be enough for a test of the $2,500 area soon.
Image by TradingView
On the daily time frame, the rate of the main altcoin keeps rising after yesterday's bullish closure. If bulls can hold the gained initiative, there is a possibility of seeing a blast to the $2,600 zone until the end of the month.
Image by TradingView
From the midterm point of view, it is too early to make any long-term predictions, as the price of ETH does not have enough energy for prolonged growth.
card
Ongoing sideways trading in the area of $2,300-$2,600 is the most likely scenario.
Ethereum is trading at $2,432 at press time.
