ETHUSD 5Hr !!
The rate of Ethereum
ETHUSD
has dropped by 2.44% over the last 24 hours.Image by TradingView
On the hourly chart, the price of ETH is in the middle of the local channel. However, if the daily bar closes near the support level, the correction is likely to continue tomorrow.Image by TradingView
On the bigger time frame, traders should focus on the support level of $2,510. If it breaks out, there is a chance to see a test of the $2,400 range soon.Image by TradingView
A little bit better picture can be seen on the weekly chart. The rate of the main altcoin is far from the main levels, which means neither bulls nor bears are dominating in the midterm.
In this regard, consolidation in the wide range of $2,400-$2,700 is the more likely scenario until the end of the month.
ETHUSD
has dropped by 2.44% over the last 24 hours.Image by TradingView
On the hourly chart, the price of ETH is in the middle of the local channel. However, if the daily bar closes near the support level, the correction is likely to continue tomorrow.Image by TradingView
On the bigger time frame, traders should focus on the support level of $2,510. If it breaks out, there is a chance to see a test of the $2,400 range soon.Image by TradingView
A little bit better picture can be seen on the weekly chart. The rate of the main altcoin is far from the main levels, which means neither bulls nor bears are dominating in the midterm.
In this regard, consolidation in the wide range of $2,400-$2,700 is the more likely scenario until the end of the month.
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