As a seasoned crypto investor with years of experience under my belt, I’ve learned to read between the lines and make informed decisions based on market trends and chart analysis. Today, as I look at Ethereum (ETH), the second-largest cryptocurrency by market capitalization, I see both bullish and bearish signs.
The last day of the week is more bearish than bullish, according to CoinStats.
ETH/USD
The price of Ethereum (ETH) has risen by almost 2% over the last day.
On the hourly chart, Ethereum’s price is showing signs of a bullish trend as it surges past the previous resistance point of $3,816. If buyers manage to maintain control, the price could climb further towards the $3,850 to $3,900 range in the near term.
Paying close attention to the daily chart, the next significant level to watch is around $3,841. Should the price reach this mark and finish the candlestick without a long lower wick, the potential energy could fuel further growth towards $3,950.
The cost of Ethereum (ETH) has nearly reached the resistance level of $3,993. However, it’s possible that buyers require additional time to gather strength for any potential price increase. If this is the case, then Ethereum may exhibit sideways trading within the range of $3,700 to $3,900.
Ethereum is trading at $3,820 at press time.
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2024-05-26 18:45