Ethereum (ETH) Price Prediction for October 31

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Almost all of the coins from the top 10 list are falling today, according to CoinMarketCap.

Top coins by CoinMarketCap

ETH/USD

The rate of Ethereum (ETH) has dropped by 5.22% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of ETH is falling after a breakout of the local support level of $2,625. If the daily bar closes below that mark, the fall is likely to continue to the $2,500 zone.

Image by TradingView

On the bigger time frame, the rate of the main altcoin is falling after yesterday's bullish bar. 

If the candle closes near its low, there is a chance to see a test of the $2,450-$2,500 range soon.

Image by TradingView

From the midterm point of view, the price is far from essential levels. The volume is low, which means none of the sides is ready for a sharp move. In this case, sideways trading in the zone of $2,400-$2,600 is the more likely scenario.

Ethereum is trading at $2,580 at press time.