Ethereum (ETH) Price Prediction for May 26
According to CoinStats, the last day of the week shows a more bearish trend than bullish for Ethereum (ETH).
Over the past day, ETH has seen a steady increase, rising by almost 2%.
Analyzing the hourly chart, there is a bullish outlook as ETH breaks through the local resistance at $3,816. Should buyers maintain their momentum, the price could continue to climb towards the $3,850-$3,900 range.
On the daily time frame, it is crucial to monitor the immediate resistance level at $3,841. If the candlestick closes above this level without a long wick, it suggests sufficient accumulated energy for a potential rise to $3,950.
ETH has come close to the $3,993 resistance level, but it may require more time for buyers to gather enough strength for further growth. As a result, a sideways trading scenario within the $3,700-$3,900 range seems more probable.
At the time of writing, Ethereum (ETH) is trading at $3,820.