Ethereum (ETH) price analysis suggests a potential continuation of the correction in the short term, with support at $2,645. However, the long-term outlook remains bearish, with a possible test of the $2,562 support level. Mid-term analysis indicates sideways trading within a broad range, with the price likely to fluctuate between $2,400-$2,800 by the end of the month.
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We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.On the hourly chart, the price of ETH is approaching the local support level of $2,645. If there is a breakout below this support, the correction could continue towards the $2,600 range by tomorrow.On a larger time frame, the market sentiment has shifted to bearish. If the daily bar closes around the current price or lower, traders might witness a test of the support level at $2,562 by the end of the week. From a mid-term perspective, the rate of the prominent altcoin is situated within a wide range, bounded by the support of $2,132 and the resistance of $3,028. As neither bulls nor bears hold a dominant position, sideways trading within the $2,400-$2,800 range is the most probable scenario by the end of the month.
ETH Ethereum Cryptocurrency Price Analysis Technical Analysis Support Resistance Bearish Sideways Trading
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