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Sellers are not able to seize the initiative yet, according to CoinStats.
The price of Ethereum (ETH) has increased by 2.15% since yesterday.
On the hourly chart, the price of ETH is in the middle of the local channel, between the support of $2,763 and the resistance of $2,828. However, if the daily bar closes near the upper level, one can expect a breakout, followed by a blast to the $2,900 zone.
On the daily time frame, traders should pay attention to the yesterday's peak.
If the bar closes below that mark, there is a chance of seeing a local correction to the $2,700 area.
On the weekly chart, the price of ETH keeps rising after the breakout of the $2,500 zone. If the situation does not change, the accumulated energy might be enough for a test of the vital area of $3,000 soon.
Ethereum is trading at $2,813 at press time.
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.
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