Ethereum’s price took a turn downwards following the weekend’s gains, as reflected by CoinMarketCap, with ETH/USD dropping approximately 4.29%. The hourly chart shows a false breakout of support around $2,352, but if this bounce doesn’t materialize, a downward trend towards the $2,300 area seems likely. 
On the bigger timeframe, the picture is more bearish. The current focus is on whether the bar closes above the $2,317 level. If it breaks through this barrier, the accumulated momentum could drive a move towards the $2,200 mark. 
A more optimistic outlook emerges on the weekly chart, but predicting distant outcomes at this point remains premature as the week’s bar closure draws near. 
However, if the price manages to break above $2,608, it could potentially lead to a test of the $2,800-3,000 range.
Ethereum currently trades at $2,446.