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Bulls are not ready yet to come back to the game, according to CoinStats.
ETH/USD
Ethereum (ETH) has followed the decline of other coins, going down by 2.18%.
On the hourly chart, the rate of ETH is declining after a false breakout of the local resistance of $2,546. If the candle closes near the support or below it, one might expect a test of the $2,450 zone shortly.
On the bigger time frame, the price of the main altcoin is going down after a failed attemp to fix above the $2,600 zone.
If the breakout of the interim level of $2,500 happens, the accumulated energy might be enough for a move to the $2,350-$2,400 range.
From the midterm point of view, the rate of ETH keeps accumulating energy for a sharp move. As none of the sides is dominating, there are low chances of seeing increased volatility.
Ethereum is trading at $2,496 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team