According to Coinstats, the crypto market continues to set new local peaks.
ETH/USD
Ethereum (ETH) is one of the biggest winners of today, up 4.5%.
Despite today’s rise, ETH prices are approaching $2,765 local support. If a breakout occurs, the decline could last up to the $2,750 zone. Such a scenario remains relevant until tomorrow.
In the long time frame, the main altcoin speed is almost touching on $2,827 resistance.
If today’s bars are closed with long wicks and are far from yesterday’s Candle Peak, the $2,700-$2,750 range could soon fade.
From a medium-term perspective, traders should focus on weekly bar closures. If it occurs near a $2,857 resistance, it could be enough to explode into a key zone with a price of $3,000.
Ethereum trades at $2,769 at press time.
