Ethereum has followed the fall of Bitcoin , going down by 2.79%.
On the daily chart, Ethereum has continued yesterday's fall against the declining volume. At the moment, the price is approaching, the breakout of which may lead to the test of the interim local level at $1,550. Such a scenario is relevant until the end of the week. On the weekly time frame, the leading altcoin might not have accumulated enough power for the midterm bull run. A continued rise is possible only if the price returns to the resistance level at $1,785.
From the local point of view, Ethereum has made a false breakout of the level at $1,634. If the candle closes below the $1,607 mark, one can expect a sharp drop to $1,580 soon.
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