The cryptocurrency market is currently bullish, with the price of Ethereum rising by 2.4% in the last 24 hours. On the hourly chart, the rate of Ethereum is near a support level of $2,645, and if it breaks out, a correction to the $2,600 range is expected. However, on a bigger time frame, the situation is bearish, and if the daily bar closes around current prices or below, there may be a test of the support level at $2,562 by the end of the week. From a midterm perspective, Ethereum's rate is within a wide range between the support level of $2,132 and the resistance level of $3,028. With neither bulls nor bears dominating, ongoing sideways trading between $2,400 and $2,800 is expected by the end of the month. At the time of writing, Ethereum is trading at $2,636.



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