Bulls keep holding the initiative on the last day of the week, according to 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.
Disclaimer
The information provided in this article is only for educational and informational purposes and should not be considered financial or investment advice. We are not licensed financial advisors. Always conduct your research and seek guidance from a certified financial professional before making any investment decisions.
