Price Analysis

Ethereum (ETH) Loses 15%; Struggles to Keep its Head Above $170

  • Ethereum loses 15% in a day and limits itself to 171 USD.
  • The next support may come at 152 USD.

Ethereum has gone beyond the limit and lost almost 15% when the overall market is at a downfall of 10% to 11%. The price of Ethereum has been confined to $171 as of now. This drastic fall over the last day has been caused by four major price shifts with a range between $202 – $157.

Ethereum Price Analysis

Ethereum’s price devaluation started in the early hours, unlike any other major coins. The first swing happened between 01:17 and 15:14 UTC, in these 14 hours, ETH coin lost 15.45 USD and it was forced to 187 USD. The second swing started at 16:05 UTC and over the next 3 hours and 43 minutes, it lost almost 18% and got placed at 157 USD, the lowest point of the day. However, from 19:48 UTC, Ethereum stared strengthening and in the next three and a half hours, it added 13.78 USD to reach 172 USD. The last swing of the day happened between 23:54 UTC and 03:17 UTC today; this swing made another increment of 3.98 USD and made ETH price roam around 170 USD.

Ethereum price analysis
Ethereum Price Chart by TradingView

Ethereum seems to have lost the highest amount amongst the top 10 coins. It may not see any quick improvement in the coming few days. As both 50 days and 20 days average are going above the current price line, Ethereum’s overall outlook remains in negative.

Ethereum (ETH)Resistance and Support Levels
1st Resistance$193.49
2nd Resistance$218.88
3rd Resistance$234.26
1st Support$152.72
2nd Support$137.34
3rd Support$111.95

 

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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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