The Ethereum price shows a slight increase, but the market situation remains volatile. We examine the current indicators and their potential impact on future price movements.
Current Hourly Chart Situation
On the hourly chart, the ETH price made a false breakout of local resistance at $1,918. If the daily bar closes near this mark or higher, the upward move might continue to the $1,950 zone.
Daily Price Fluctuations
On the daily chart, neither bulls nor bears are dominating. For buyers to seize the initiative, they need to restore the rate above the $1,963 level. If its breakout occurs, it might lead to testing the vital $2,000 area.
Weekly Perspective Analysis
On the weekly chart, one should focus on the nearest level of $1,800. If its breakout happens, the fall is likely to continue to the $1,700 range.
At the time of publication, Ethereum is trading at $1,900. The current indicators suggest possible movements both upwards and downwards, depending on the breakout of key support and resistance levels.
