
Unlock Ethereum's Potential: Insightful ETH Price Forecast for June 6
Has local drop of Ethereum (ETH) ended yet?[...]
Ethereum Holds Steady Despite Market Neutral Conditions
As the week concludes, the cryptocurrency market remains relatively neutral based on CoinMarketCap data. Ethereum (ETH), however, experienced a slight 2.69% decline over the past 24 hours.
Despite the broader market's sideways movement, Ethereum's hourly chart reveals a more optimistic outlook. The leading altcoin continues to establish new local highs, indicating potential upward momentum.
If the daily candle closes near current levels or higher, Ethereum could soon test the $2,600 price range. On longer timeframes, ETH has shown a false breakout below yesterday's low. Should bullish momentum persist, we might see a delayed correction and a potential test of the $2,600-$2,700 range.
From a mid-term perspective, neither bulls nor bears currently hold clear dominance. Declining trading volume suggests reduced likelihood of significant price swings in either direction in the immediate future.
As of this writing, Ethereum trades at $2,515.