FX.co ★ #Ethereum chart analysis

Hello traders, we continue to observe the cryptocurrency - Ethereum. As we can see, the buying pressure from the previous session continues to influence the market. From a global perspective, the instrument is currently around the hourly candle where bullish potential is developing. The price is currently trading around the local level of 3002, with the key support at the lower minimum of 3016. The priority in the market is for buying, which can be considered after breaking the resistance at 3088, a level from which a local decline may occur. A long position signal will be confirmed by a sustained position above the broken range at 3096. In this case, it is advisable to place the stop loss below the level for protection. If the currency returns to the critical minimum area at 2917, where the stop loss is located, it will indicate a weakening of the bullish scenario.