Traders are witnessing a market bounce back, according to CoinStats.
ETH/USD
The rate of Ethereum (ETH) has increased by 6.18% since yesterday.
On the hourly time frame, the price of the main altcoin is going down after a false breakout of the local resistance of $2,262. If sellers’ pressure continues, one may expect a test of the support by tomorrow.
On the daily chart, the rate of ETH is going up after the bounce off from the support level of $2,076.
However, if the candle closes far from its peak, further growth might be postponed.
From the midterm point of view, there are no reversal signals yet. One should focus on the vital zone of $2,000. If its breakout occurs, the accumulated energy might be enough for a test of the $1,750 area shortly.
Ethereum is trading at $2,206 at press time.
