The situation has not changed much on the market compared to yesterday, according to CoinMarketCap’s ranking.
Top coins by CoinMarketCap
ETH/USD
The rate of Ethereum (ETH) has fallen by 0.68% over the last 24 hours.
Image by TradingView
On the local chart, the rate of Ethereum (ETH) is trying to reach the resistance at $1,879. If the daily candle closes around this mark, there is a possibility to see a breakout tomorrow.
Image by TradingView
The opposite situation is on the daily time frame, as the rate keeps trading near the support at $1,863. If the drop continues to that mark, the accumulated energy may be enough for a decline to the $1,800-$1,820 zone.
Such a scenario is relevant until the end of the month.
Image by TradingView
From the midterm point of view, the rate of Ethereum (ETH) keeps trading sideways, getting strength for a further move. As neither side has seized the initiative yet, ongoing consolidation in the range of $1,800-$1,900 is the more likely scenario.
Ethereum is trading at $1,873 at press time.
Source: https://u.today/ethereum-eth-price-analysis-for-july-23