Ethereum (ETH) has increased by 4.33% since yesterday, trading at $2,424. Local resistance is noted at $2,448; buyers may need ETH to break $2,533 for a midterm rise. Current trading suggests testing a range of $2,500 to $2,600 soon, pending weekly closure.
Ethereum (ETH) has seen a price uptick of 4.33% since yesterday, as reported by CoinStats. This shift comes just as the weekend kicks off, suggesting sellers haven’t fully taken hold yet. Currently, ETH is trading at $2,424, with market sentiment leaning somewhat positive, but caution remains due to the lack of decisive movement.
According to TradingView analysis, the hourly chart indicates that Ethereum might have encountered local resistance around $2,448. As the Average True Range (ATR) appears to be mostly spent, sharp price fluctuations might be required for tomorrow. Investors seem to be in a wait-and-see mode, avoiding rash decisions in this relatively stable environment.
In the bigger picture, ETH’s price remains trapped within yesterday’s trading range, indicating that neither buyers nor sellers have solidified control just yet. For buyers to regain confidence and aim for midterm gains, ETH needs to break through the $2,533 resistance level.
Looking ahead from a midterm perspective, there don’t seem to be any reversal signals at this moment. If Ethereum manages to solidify its trading around current levels by the end of the week, it could be poised for a test of the $2,500 to $2,600 range in the near future. Stakeholders are advised to keep an eye on price movements as the week progresses, as developments could shift quickly.
