The cryptocurrency market is experiencing a bullish trend, particularly regarding Ethereum, which has increased by 1.74% over the past day.
Ethereum's Value Increase
The price of Ethereum (ETH) has risen by 1.74% in the last 24 hours.
Price Technical Analysis
On the hourly chart, ETH is closer to the resistance level than to the support level.
If buyers can maintain their initiative, a level breakout followed by a move to the $3,900 zone is expected.
Future Prospects for Ethereum
On larger time frames, the situation also appears bullish. If the daily candle closes above the $3,824 resistance, the accumulated energy might be enough for a test of the $3,900-$4,000 range soon.
From a midterm perspective, ETH has closed above the $3,675 resistance. While the price remains above this mark, there is a high likelihood of an ongoing upward move to the $4,093 level.
As of now, Ethereum is trading at $3,808. Price growth and adherence to key resistance levels may indicate a strengthening of the cryptocurrency's position.
