Buyers are maintaining pressure at the end of the week, according to Coinstats.
ETH/USD
Ethereum (ETH) share has risen 0.52% since yesterday. Prices rose 10% last week.
On the hourly chart, the main altcoin price is approaching local support at $1,597. If the daily bar closes nearby, there is a possibility of a breakout in the level, further dropping down to the $1,550 mark.
In the larger time frame, neither side has dominated as the rates are traded within yesterday’s bar. The Bulls can only start thinking about upward movement if the nearest resistance breakout of $1,689 occurs and the candle is fixed on top of it.
From a medium-term perspective, Ethereum’s percentage (ETH) bounced back $1,368. However, there is not enough energy yet, so fast bouncebacks are unlikely to occur.
In this case, side-way trading in regions between $1,500 and $1,700 is a more likely scenario.
Ethereum trades at $1,605 at press time.
