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Sellers are not able to seize the initiative yet, according to CoinStats.
ETH/USD
The price of Ethereum (ETH) has increased by 2.15% since yesterday.
On the hourly chart, the price of ETH is in the middle of the local channel, between the support of $2,763 and the resistance of $2,828. However, if the daily bar closes near the upper level, one can expect a breakout, followed by a blast to the $2,900 zone.
On the daily time frame, traders should pay attention to the yesterday's peak.
If the bar closes below that mark, there is a chance of seeing a local correction to the $2,700 area.
On the weekly chart, the price of ETH keeps rising after the breakout of the $2,500 zone. If the situation does not change, the accumulated energy might be enough for a test of the vital area of $3,000 soon.
Ethereum is trading at $2,813 at press time.
Tomiwabold Olajide
Yuri Molchan
