Most of the coins are bouncing off today, according to CoinStats.

Ethereum (ETH) is one of the biggest gainers today, rocketing by more than 7%.

On the hourly chart, the price of ETH has made a false breakout of the resistance of $2,033. However, if the daily bar closes around that mark or above and with no long wick, the upward is likely to continue to the $2,100 area tomorrow.

On the bigger time frame, the rate of the main altcoin has broken the resistance of $1,963. 

In this case, one should focus on the current bar’s closure in terms of its peak. If it happens above the vital $2,000 zone, growth may continue to $2,100.

From the midterm point of view, none of the sides is dominating as the rate is far from the key levels. In this regard, sideways trading in the area of $2,000-$2,200 is the most likely scenario.

Ethereum is trading at $2,029 at press time.