U.Today - All top 10 coins are in the red zone today, according to CoinMarketCap.
ETH/USD
The rate of Ethereum (ETH) has declined by 3.51% over the last 24 hours.
On the hourly chart, the price of ETH is coming back to the local resistance of $2,756. If bullls' pressure continues, one can expect a test of the upper level by tomorrow.
On the bigger time frame, the situation remains neutral. The rate of the main altcoin keeps accumulating energy for a further move.
As none of the sides has seized the initiative yet, ongoing consolidation in the range of $2,600-$2,800 is the most likely scenario.
From the midterm point of view, it is too early to make any distant predictions. The volume is low, which means there are low chances of seeing any sharp moves by the end of the month.
Ethereum is trading at $2,722 at press time.
This content was originally published on U.Today
