The last day of the week is about to be neutral for the cryptocurrency market as some coins keep rising while others have faced correction.
The rate of Ethereum (ETH) keeps rising, going up by almost 3% since yesterday.
On the local time frame, Ethereum (ETH) is approaching the resistance level at $1,778. Even though the daily ATR has passed, a closure near $1,780 can be a prerequisite for a squeeze to $1,800 soon.
On the bigger chart, the situation is also bullish as the candle is about to close near yesterday’s peak at $1,789. If that happens and sellers cannot seize the initiative, there is a high chance to see a test of the mirror level at $1,819 shortly.
The weekly chart confirms the bullish midterm trend as the candle has a good chance to close above the vital $1,721 level. However, one should not expect further sharp growth as the leading altcoin might need more time to get power for a continued move.
Ethereum is trading at $1,772 at press time.