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Most of the top 10 coins are in the red area today, according to CoinStats.
ETH/USD
The price of Ethereum (ETH) has declined by 3.33% since yesterday.
On the hourly chart, the rate of ETH has made a false breakout of the local support of $3,941. However, if a bounce back does not happen, traders may see a further drop to the $3,900 mark.
On the longer time frame, there are no reversal signals yet. The price of the main altcoin is far from main levels, which means there are low chances of seeing sharp moves soon.
In this case, sideways trading in the zone of $3,900-$4,050 is the most likely scenario.
From the midterm point of view, the situation is similar. The volume keeps falling, which means traders are unlikely to see increased volatility shortly.
Ethereum is trading at $3,966 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team