Price Analysis

Ethereum Fails to Sustain; Trades Below Support Area

The crypto market is completely shaken due to current volatility. The big forces of the market like Bitcoin, Ripple, Ethereum, Litecoin, etc are also suffering due to the same. The traders interested in investment are waiting for the coins to adapt a stable momentum.

Ethereum (ETH) was seen registering heavy loss yesterday and was seen dealing at a low of $186 and a high of $191 marking a trading volume of $9,081,247,799.

Let’s have a look at the intraday movement of the coin.

Ethereum Price Prediction:

Yesterday, Ethereum started trading at $191 and it escalated to $192 by 0.67% within the first few hours. The coin slipped to $186 in the later hours. There was another upsurge that took ETH to $189. The pullback pressure brought the coin to $185.

Further, the coin recovered and jumped to $187 by 1.23%. The movement in the coin brought 2.48% intraday fall. Today, ETH coin started with a slight upsurge as the price counters moved from $186 to $187 by 0.70%. The currency dropped in the later hours to $183 by 2.48%.

ETH Price Forecast
ETH Price Chart by TradingView

ETH coin price is expected to keep the downtrend intact. The coin has breached the immediate support level at $185 and also the next support level at $183. There is a strong possibility that the coin might cross the major support level too. The other calculated resistance and support levels are as follows:

Resistance LevelPrice Support Level Price
R1$189S1$185
R2$191S2$183
R3$193S3$181

Ethereum is anticipated to have a great future as per its history so far. The coin is ideally suggested for long-term investment, but we would recommend the traders to hold their investment for some time as the current scenario is not suited for the investment.

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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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