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The last working day of the week has turned out to be bullish for the cryptocurrency market as most of the coins remain trading in the green zone.
ETH/USD
Ethereum (ETH) has followed the rise of Bitcoin (BTC), going up by 5%.
On the hourly chart, Ethereum (ETH) has made a false breakout of the local peak at $1,745 against increased volume. If the price can hold above the vital $1,700 mark until the end of the day, there are chances to see growth to the $1,800 zone soon.
On the daily time frame, Ethereum (ETH) has broken the level at $1,647. Currenly, one needs to pay close attention to the resistance at $1,721. If the candle closes above it, the rise may continue to the closest zone of $1,840 by mid-September.
On the bigger chart, Ethereum (ETH) is trading in the middle of a wide range against the rising volume. If the weekly candle can close near the $1,700 mark, one can expect a further upward move to important $2,000 mark.
Ethereum is trading at $1,720 at press time.
Alex Dovbnya
Vladislav Sopov
Dan Burgin