According to CoinMarketCap, the market continues to set new local lows.
ETH/USD
The Ethereum (ETH) rate has fallen by 6.74% over the past 24 hours.
On the hourly chart, the price of ETH is near the support at $2,442. If the daily bar closes near this level, the decline could lead to a test of the $2400 zone tomorrow.
On a larger timeframe, you should pay attention to the nearest level of $2437.
If it breaks out, the correction is likely to continue in the $2,350-$2,400 range over the next few days.
On the weekly chart, the ETH rate is far from the main levels. However, if the bar closes near the low, there is a chance of seeing a deeper drop into the $2,200-$2,300 area before the end of the month.
At the time of publication, Ethereum is trading at $2,450.
