Price Analysis

Ethereum Badly Falls in Bearish Zone; Price Drops Below $168

  • Ethereum (ETH) price mark a tremendous fall
  • Intraday trading might bring loss to investors

Ethereum price is badly affected by the bearish trend. The intraday traders of the coin are expected to book huge losses today. The crypto market started the month with heavy volatility. There are few coins that reflected improvement, but Ethereum couldn’t handle the pressure.

If we look at yesterday’s market, the currency was seen touching a high at $175.65 and a low at $172.27. The volume marked is at $6,990,951,966.

Ethereum Price Analysis:

Looking at the chart, we can observe a steep fall. The price started dealing at $174; the price escalated to $176 by 0.70%, but later fell to $171 by 2.49%. The coin closed at the same level, with an intraday loss of 1.81%. Today, Ethereum started dealing at $171. The price hovered around the same level for some time but fell in the later hours. The price counter changed from $171 to $165 by 2.35%. There is a slight recovery in the coin; the price is currently at $166.

Ethereum Price
ETH Chart By TradingView

Ethereum price is expected to improve in the future. The current volatility in the market is likely to be lifted shortly. The currencies that are badly affected by the same would get the opportunity to improve.

Resistance LevelPrice
R1$174.54
R2$176.79
R3$177.92
Support LevelPrice
S1$171.16
S2$170.03
S3$167.78

The currency is currently dealing at $168. The price is almost near the major support level. In the coming hours, Ethereum would be seen breaching the same. The coin is counted among the top ten cryptocurrencies. It would recover soon and jump to an astounding level again. The traders are suggested to pick long-term investments with it. The same would give a massive profit to the traders.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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