As we reach the middle of the week, the cryptocurrency market remains mainly bullish, with Ethereum (ETH) showing a 1.39% increase in the past 24 hours.
Current Ethereum Price
At the time of writing, Ethereum is trading at $3,625. Over the last 24 hours, the price of the cryptocurrency has risen by 1.39%.
Chart Analysis
On the hourly chart, ETH's price is rising after bouncing back from the local support level of $3,570. If buyer pressure continues, there is a high chance of testing the upper level by tomorrow. The trading volume is low, indicating traders are unlikely to expect sharp movements over the next few days.
Future Predictions
From a midterm perspective, ETH's price is within the previous weekly bar. If the situation does not change by the end of the week, the most likely scenario will be sideways trading in the range of $3,400 to $3,800.
Under current conditions, Ethereum shows moderate growth, but a lack of trader interest may indicate an upcoming sideways price movement.
