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The market continues setting new local lows, according to CoinMarketCap.

ETH/USD

The rate of Ethereum (ETH) has fallen by 6.74% over the last day.

On the hourly chart, the price of ETH is near the support of $2,442. If the daily bar closes near that mark, the decline may lead to the test of the $2,400 zone tomorrow.

On the bigger time frame, one should pay attention to the nearest level of $2,437. 

If it breaks out, the correction is likely to continue to the $2,350-$2,400 range within the next few days.

On the weekly chart, the rate of ETH is far from the main levels. However, if the bar closes near its low, there is a chance to see a more profound drop to the $2,200-$2,300 area until the end of the month.

Ethereum is trading at $2,450 at press time.