The rates of most of the coins keep setting new local peaks, according to CoinStats.
ETH/USD
Ethereum (ETH) is one of the biggest gainers today, going up by 2.83%.
On the hourly chart, the rate of ETH is looking bullish as it is about to break the local resistance of $4,718. If it happens, the upward move is likely to continue to the $4,750 zone by tomorrow.
On the longer time frame, the price of the main altcoin is on its way to the resistance of $4,887.
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If buyers’ pressure continues, traders may witness a level breakout, followed by a test of the $5,000 mark.
From the midterm point of view, the situation is similar. If growth continues to the resistance of $4,887, the accumulated energy might be enough for a test of a new all-time high.
Ethereum is trading at $4,699 at press time.
Source: https://u.today/ethereum-eth-price-analysis-for-october-7