The prices of most of the coins keep rising today, according to CoinStats.
ETH chart by CoinStats
ETH/USD
Unlike most other coins, the rate of Ethereum (ETH) has declined by 0.59% since yesterday.
Image by TradingView
On the hourly chart, the price of ETH is near the local support of $4,493.
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If the bounce back does not happen until the end of the day, traders may witness a level breakout, followed by an ongoing drop to the $4,460 area.
Image by TradingView
On the longer time frame, the rate of the main altcoin keeps falling. If today’s candle closes below yesterday’s low, there is a high chance of seeing a test of the $4,400 zone soon.
Image by TradingView
From the midterm point of view, neither bulls nor bears are dominating. This is confirmed by the falling volume. In this case, sideways trading in the range of $4,300-$4,600 is the most likely scenario.
Ethereum is trading at $4,502 at press time.
