The cryptocurrency market shows positive dynamics again. The price of Ethereum (ETH) has risen by 5.05% in the last day.
Overview of Current Market Situation
Currently, the price of Ethereum stands at $2,584. This indicates a recovery of interest in digital assets, especially among traders and investors.
Short-Term Forecast
On the hourly chart, the price of ETH is heading towards the local support at $2,562. If bulls cannot seize the initiative, a test of the $2,550 zone is expected in the coming days.
Long-Term Prospects for Ethereum
From a mid-term perspective, attention should be paid to the closing of the weekly candle. Currently, the price of the main altcoin is far from key levels, indicating that sideways trading around current prices is likely.
The price of Ethereum is showing positive trends; however, investors should carefully monitor local support levels and candle closures to assess further movement.
