The crypto market is currently under hefty pressure. Bitcoin has dropped beyond the quarterly low and created a new low at $6,617. Ripple dropped beyond the 52-week low and touched $0.207. Ethereum is also marking a similar trend. The coin has breached the 90-day low. Yesterday, the price was spotted dealing at a high of $153.97 and a low at $142. The volume was at $7,782,769,098.
Ethereum (ETH) Price Analysis:
Yesterday, Ethereum started at $153.48. The price shifted to $150 by 2.27% fall. The coin remained at the same level for some time, but the currency dropped to $142.96 by 5.25%.
Towards the closing hours, ETH price dropped to $139.97 from $145.65 by 3.95%. The coin closed the day at $138 with an intraday regression of 8.02%. Today, the coin opened with a slight escalation that took the price of ETH coin to $143.49.
Later, the pullback brought the coin to $137.42 by 4.26%. The price slipped to $134.21 by 3.52% in the later hours. The same level is considered as Ethereum’s 90-day low. Recently, there is slight improvement spotted in the coin that has brought the ETH price to $137. The recovery was 2.46%.
Ethereum is counted among the top players of the market. The coin has given flourishing results in the past. The traders are expecting a similar kind of growth in the future. Well, the traders eyeing for the same have to wait for some time.
For intraday traders, ETH coin has breached the immediate support level at $139 and the next support level at $135.
However, the coin has recovered lately and jumped to $137, but there is still a chance for ETH price to touch the major support level at $127.
The traders are recommended to opt for long-term investment for a colossal profit. However, the current scenario is suggesting the traders to stay put and wait for a visible improvement.