According to CoinMarketCap, the market is mainly red during the middle of the week.
ETH/USD
Ethereum (ETH) rate has fallen by 0.1% in the past 24 hours.
On the hourly chart, ETH price is falling after accidentally breaching the local resistance at $3,124. If seller pressure continues, support is expected to be tested by tomorrow.
Looking at the longer time frame, the major altcoin rates have not rebounded far from the support at $2,959. If the daily closes near or below that mark, the decline could continue into the $2,800 to $2,900 zone.
Such a scenario will be relevant until the weekend.
From a medium-term perspective, traders should pay attention to the nearest level at $3,004. If a breakout occurs, the pent-up energy could be enough to push the price higher into the $2,800 range.
At the time of writing, Ethereum is trading at $3,059.
