The price of Ethereum (ETH) has dropped by 5.22% in the last 24 hours, causing a fall in almost all of the coins from the top 10 list. On the hourly chart, the price of ETH is falling after breaking the local support level of $2,625. If the daily bar closes below this level, the price could continue to fall to the $2,500 zone. On the larger time frame, the rate of ETH is falling after a bullish bar yesterday. If the candle closes near its low, there is a possibility of testing the $2,450-$2,500 range soon. Overall, the price of ETH is currently trading at $2,580 and sideways trading in the range of $2,400-$2,600 is the more likely scenario in the midterm.



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