The market is back to green on the first day of the week, according to CoinStats.
ETH chart by CoinStats
ETH/USD
The price of Ethereum (ETH) has gone up by 3.41% since yesterday.
Image by TradingView
On the hourly chart, the rate of ETH keeps looking bullish. If the daily bar closes near the resistance or breaks it, one can expect a test of the $2,700 range soon.
Image by TradingView
On the longer time frame, the price of the chief altcoin is in the middle of the wide channel, between the support of $2,317 and the resistance of $2,857.
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As neither bulls nor bears are dominating, there are low chances if seeing increased volatility by the end of the week.
Image by TradingView
From the midterm point of view, the rate of ETH is on its way to the resistance of $2,857. If growth continues, there is a possibility to witness a test of the vital $3,000 mark.
Ethereum is trading at $2,624 at press time.
