Most cryptocurrencies, including Ethereum (ETH), are showing positive dynamics at the beginning of the weekend, according to CoinMarketCap.
Current ETH/USD Dynamics
The price of Ethereum has risen by 2.38% over the last 24 hours. At the time of writing, ETH is trading at $1,988.
Hourly Chart Analysis
On the hourly chart, Ethereum has set a local resistance at $2,006. With the current price far from key levels, the daily closure near the $2,000 mark will be crucial. If sustained, a test of the $2,020-$2,030 zone may follow soon.
Midterm Forecast
On larger time frames, the situation remains neutral. The absence of clear dominance by either side is confirmed by the low trading volume. If no changes occur, sideways trading in the range of $1,950-$2,050 is likely. If the support at $2,000 is lost, a decline to the $1,500-$1,600 levels is possible.
Current indicators of Ethereum show positive dynamics. However, it's important to monitor key levels to determine possible market developments.
