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The week is ending bullish for most of the coins, according to CoinStats.
ETH/USD
The rate of Ethereum (ETH) has risen by 1.66% since yesterday. Over the last week, the price has risen by 4.78%.
On the hourly chart, the price of the main altcoin is near the local resistance of $2,570. If bulls can hold the gained initiative, one can expect a level breakout, followed by a test of the $2,600 zone soon.
On the bigger time frame, traders should focus on the nearest zone of $2,600. If a breakout happens, the accumulated energy might be enough for a move to the $2,700 area.
Such a scenario is relevant until the end of next week.
From the midterm point of view, neither side has seized the initiative yet. The volume keeps falling, which means ongoing sideways trading around the current prices is the more likely scenario.
Ethereum is trading at $2,557 at press time.
Vladislav Sopov
U.Today Editorial Team