Ethereum was trying to move on the upside, although modestly. The price action has been tight as the range that ETH was trading remained between $2800 and $2900 respectively. Prices have been consistently trying to restest the $2900 mark but have faced rejection from the aforementioned level. Sellers currently have pushed the price beneath the $2900 mark. Over the last week, ETH lost over 7%, however, in the past 24 hours the king altcoin showed signs of recovery. The coin registered a 1% jump in prices. This development could make it possible for the bulls to re-enter the market. It is a good sign that the bulls have been buying at lower price levels for the altcoin. This signals that prices might shoot up over the upcoming trading sessions. Ethereum Price Analysis: One Day Chart Ethereum was priced at $2871 at the time of writing. Its immediate mark of resistance was at $3028, over the past immediate trading sessions ETH lost vigour and got rejected from the $3000 price mark. The coin depicted signs of positive price action as the volume traded was seen in green as the closing price was higher than the previous session. In case ETH manages to push its way up then it could break past the $3000 mark and trade close to $3263. On the flipside, the local support level for the coin was at $2794 and failing to trade over which ETH would trade at $2437. The king altcoin depicted an ascending triangle, which is characterised to be bu...
