All Top 10 Coins in the Red

According to CoinMarketCap, all top 10 coins are in the red zone today.

ETH/USD

The rate of Ethereum (ETH) has declined by 3.51% over the last 24 hours.

On the hourly chart, the price of ETH is approaching the local resistance at $2,756. If bulls’ pressure continues, a test of this upper level may occur by tomorrow.

In the larger time frame, the situation remains neutral. The main altcoin is accumulating energy for a further move.

As neither side has taken the initiative, ongoing consolidation in the range of $2,600-$2,800 is the most likely scenario.

From a midterm perspective, it is too early to make long-term predictions. The volume is low, indicating low chances for sharp moves by the end of the month.

Ethereum is trading at $2,722 at press time.