Ethereum (ETH) has continued to show strength as bulls maintain control of the market. CoinMarketCap reports that the price of ETH has increased by nearly 2% since yesterday, and over the past week, it has risen by 9.70%.
On the hourly chart, ETH experienced a significant surge after breaking through the local resistance level of $2,653. If the daily bar closes above this level, it is likely that the upward momentum will continue towards the $2,750 range in the near future.
Looking at the bigger time frame, Ethereum is currently testing the $2,702 level. If a breakout occurs at this level, there is enough accumulated energy to potentially push the price towards the $2,800 zone in the next few days.
On the weekly chart, a bullish picture is emerging. If the candle closes near the current prices and without a long wick, there is a good chance of continued growth towards the $2,800-$3,000 area by the end of the month.
As of now, Ethereum is trading at $2,702.