Almost all of the coins from the top 10 list are falling today, according to CoinMarketCap.
ETH/USD
The rate of Ethereum (ETH) has dropped by 5.22% over the last 24 hours.
On the hourly chart, the price of ETH is falling after a breakout of the local support level of $2,625. If the daily bar closes below that mark, the fall is likely to continue to the $2,500 zone.
On the bigger time frame, the rate of the main altcoin is falling after yesterday’s bullish bar.
If the candle closes near its low, there is a chance to see a test of the $2,450-$2,500 range soon.
From the midterm point of view, the price is far from essential levels. The volume is low, which means none of the sides is ready for a sharp move. In this case, sideways trading in the zone of $2,400-$2,600 is the more likely scenario.
Ethereum is trading at $2,580 at press time.