Ethereum's (ETH) price continues to show positive dynamics, increasing amid overall market growth. This article examines current trends and technical indicators.
General Trends in Ethereum's Price
Since the beginning of the week, Ethereum's price has increased by 8%, with a 2.24% rise noted over the past day. This holds positive prospects for investors.
Technical Analysis
On the hourly chart, ETH has set local resistance at $4,576. If the daily candle closes significantly below this level, a correction to the $4,400 zone can be expected. On a larger time frame, the asset's price resides between support at $4,093 and resistance at $4,783. The trading volume is low, indicating a potential lack of volatility soon.
Outlook and Forecasts
From a mid-term perspective, a key point is the closing of the weekly candle at the $4,093 level. If the candle closes far from this mark without a long wick, the growth may continue to the $5,000 range. Currently, Ethereum is trading at $4,531.
Thus, Ethereum is showing positive trends; however, investors should closely monitor support and resistance levels to determine future movements.
