The price of Ethereum (ETH) has increased by 1.60% over the last day, but a correction of some coins has occurred according to CoinMarketCap. The rate of ETH is currently in the middle of a local channel between the support of $3,578 and the resistance of $3,726. It is unlikely that there will be any sharp moves by the end of the day since most of the Average True Range (ATR) has been passed. Traders should pay attention to the bar closure in terms of the $3,684 level, as a false breakout could result in a drop to the $3,500-$3,600 range. In the midterm, there are no reversal signals yet, but the rate of Ethereum is far from key levels, suggesting that sideways trading in the $3,500-$3,800 range is more likely. At present, Ethereum is trading at $3,668.



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