Sellers are not ready yet to seize the initiative on the first day of the weekend, according to CoinStats.

The price of Ethereum (ETH) has gone up by 4.33% since yesterday.

On the hourly chart, the rate of ETH might have set a local resistance of $2,448. As most of the ATR has been passed, traders are unlikely to witness sharp moves by tomorrow.

On the bigger time frame, the price of the main altcoin is within yesterday’s bar, which means neither side is dominating.

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Buyers may only start thinking about a midterm rise if a breakout of the $2,533 level happens.

From the midterm point of view, there are no reversal signals yet. If the weekly bar closes around the current prices, traders may witness a test of the $2,500-$2,600 range soon.

Ethereum is trading at $2,424 at press time.