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The rates of most of the coins keep falling; however, there are some exceptions to the rule.
ETH/USD
The rate of Ethereum (ETH) has declined by 0.28% over the last 24 hours.
On the hourly chart, the rate of Ethereum (ETH) has passed most of its ATR, which means there are low chances of any sharp moves today.
The falling volume also confirms this expectation. In this case, sideways trading in the area of $1,625-$1,635 is the more likely scenario.
On the daily time frame, the price of ETH has made a false breakout of yesterday's low. However, the rate keeps far from the main levels, which means that neither buyers nor sellers have seized the initiative yet. All in all, consolidation in the range of $1,620-$1,660 is the more likely scenario until the end of the week.
A similar picture can be seen on the weekly chart, as the candle is located within the previous bar. At the moment, traders should pay attention to the vital zone of $1,600. If buyers lose it, the drop may continue to the support of $1,543 soon.
Ethereum is trading at $1,630 at press time.
Gamza Khanzadaev
Arman Shirinyan
