According to CoinStats, sellers won’t give up easily.
$ETH/USD
Ethereum rate ($ETH) has fallen 1.1% over the past day.
On the hourly chart, $ETH Close to local support at $2,935. Since most of the daily ATR has passed, it is unlikely that we will see any sharp moves by tomorrow.
However, unless a rebound occurs, the decline is likely to continue to the $2,900 zone.
On a longer time frame, the situation is quite bearish as major altcoin rates have not rebounded far from support after a false breakout. If the candlestick closes below the $2,888 level, traders may soon see a test of the $2,800 range.
In the medium term, $ETH It is in the middle of a channel between support at $2,624 and resistance at $3,447. Volume continues to decline, meaning traders are unlikely to see any sharp moves by the end of the month.
At the time of writing, Ethereum is trading at $2,948.