Ethereum (ETH) Reflects 13.30% Fall in a Day

  • Ethereum price falls due to heavy market pressure
  • The tremendous drop resets the 30-days low counter at $198

ETH coin was breaking records since the opening of 2020. The currency was spotted breaching the 90-days high and setting a new one $287 on February 15. The upsurge was so tremendous that within 45 days, the 90-days high was breached.

The current momentum is exactly opposite to that of the opening. Yesterday, Ethereum readjusted 30-days low at $200, and today, the plunge reshuffled the price counter again, and thus, it has set a new one at $198. The currency is likely to take up the recovery towards the end of the week. The traders can anticipate correction in the coming 7-days period.

ETH/USD Price Chart

Ethereum (ETH) Price News

Yesterday, Ethereum price started dealing at $234 with a slight fall. In the next 6 hours, the coin dribbled to $227 at a 2.91% regression. Then, it escalated to $231 in the next 5 hours. Further, the ETH price dropped to $204 by almost 12% in the next 4 hours. The tremendous fall was followed by a slight upsurge of 6.29%, and the price touched $217. The currency felt a pullback pressure in the later hours. The price of the Ethereum dropped to $204. The closing hours of the day felt a heavy plunge. The price counters were spotted, slipping to $196 from $209. The day-long movement exhibited a 13.48% regression in the ETH price.

Today, the currency opened with a sluggish movement. The price dropped to $197 with a spike at $205. Later, the Ethereum price recovered to $208 by 5.37%, and then, it was spotted hanging there for a while, but later, it dropped to $203.

The current price of the ETH coin is at $203. The currency is likely to fall to the immediate support level at $188. The coin might be seen breaching the same level in the upcoming hours. The next support level at $175 might be violated by the end of the day. However, if momentum improves, then Ethereum could be spotted, escalating to the immediate resistance level at $225.

Dorothy Willson
Dorothy Willson is a full time contributor to CryptoWhile. He holds major in journalism and social communication. He is closely engaged in curating and writing about cryptocurrencies and blockchain technology. He firmly believes that blockchain will transform our future financial market.

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