Bulls are refusing to give up, according to the CoinMarketCap ranking.
Ethereum (ETH) is outperforming most of the other coins, adding roughly 4.38%.
Ethereum (ETH) is trying to test the resistance level at $1,678 once again after the false breakout of the support level at $1,639. If the price remains above $1,650, the rise may lead to a sharp rise to the $1,700 mark soon.
Ethereum (ETH) has started the day with the rise as the leading altcoin might have accumulated enough strength for growth.
If the volume remains at the same level or increases, bulls may keep the upward move to the area above $1,700 within days.
Ethereum (ETH) has bounced off the $1,600 zone which means that bulls are more powerful than bears at the moment. Respectively, the next level where sellers may come back to the game is the resistance at $1,721. All in all, the test of the $1,700 mark is just a matter of time.
Ethereum is trading at $1,665 at press time.