The cryptocurrency market has finally returned to the green zone, with Ethereum emerging as one of the growth leaders. The asset has exhibited impressive price increases over the past week.
Overall Market Dynamics
Throughout the past week, most cryptocurrencies have shown positive dynamics. According to CoinMarketCap, on the last day of the week, nearly all coins returned to the green zone, indicating a market recovery.
Ethereum Price Analysis
The price of Ethereum (ETH) has risen by 5.41% in the last 24 hours, with the asset increasing by 24.77% over the week. On the hourly chart, ETH price is nearing local resistance at $3,766. Increased volatility in the coming days is unlikely as most daily ATR has already been reached. If the candle closes around current prices, there is a chance to test the $3,800 zone soon.
Future Prospects
From a technical standpoint, there are no bearish signals observed. Trading volume remains high, supporting the likelihood of further ETH growth until the end of the month. As of now, Ethereum is trading at $3,744.
The cryptocurrency market is showing positive signals, and Ethereum, in particular, continues to exhibit growth. Given the current market conditions, assets appear to be on a path to new highs.
