Ethereum continues to show positive dynamics. Let's explore the current situation and possible changes in the near future.
Short-Term Ethereum Price Analysis
In the last 24 hours, the price of Ethereum has risen by 2.4%. On the hourly chart, the ETH rate is near the local support of $2,645. If it breaks, the correction may continue to the $2,600 range.
Mid-Term ETH Perspectives
On a larger time frame, the situation has turned bearish. If the daily bar closes around current prices or below, a test of the support at $2,562 can be expected by the end of the week.
Current Situation and Forecast
From a mid-term perspective, the rate of the main altcoin is in the middle of a wide range between the support of $2,132 and the resistance of $3,028. Ongoing sideways trading in the $2,400-$2,800 area is the most likely scenario by the end of the month.
Currently, the Ethereum market shows stability within set ranges. Traders should consider the possible continuation of sideways trading.
