According to CoinStats, buyers are trying to maintain their momentum as the weekend begins.
ETH/USD
Ethereum (ETH) price has increased by 2.20% over the past 24 hours.
On the hourly chart, ETH price is rising after a false breakout of the local support level at $2,411. If the daily bar closes far from it, tomorrow’s growth may continue until resistance.
On a higher timeframe, traders should focus on the $2466 level. If a breakout occurs, the accumulation could be enough to continue the move higher into the $2,500-$2,600 range.
This scenario is valid until the end of the coming week.
From a medium-term perspective, buyers do not have enough strength to continue rising even if the weekly bar closes around current prices. In this case, a more likely scenario is consolidation in the $2300-$2600 zone.
At the time of publication, Ethereum is trading at $2,418.
