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Buyers are not going to give up easily, as most of the coins are again in the green zone, according to CoinStats.
ETH/USD
The price of Ethereum (ETH) has gone up by 0.5% over the last 24 hours.
On the hourly chart, the rate of ETH is testing the local support of $2,577. If it breaks out, the fall may lead to the test of the $2,500 range.
On the bigger time frame, the price of the main altcoin is going down after yesterday's bearish closure.
If nothing changes by the end of the day, there is a chance to see an ongoing decline to the $2,400 zone by the end of the week.
From the midterm point of view, one should focus on the weekly candle's closure in terms of the $2,608 level. If it happens far from there, bears may seize the initiative, which may lead to a drop to the $2,400 zone.
Ethereum is trading at $2,579 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team