Ethereum Price Lost 20% Weekly, What’s The Key Support Now?
Ethereum price has seen a witnessed tough of late, the altcoin logged weighty losses throughout the last week. Broader market shortcomings could be blamed on the coin's ongoing price force. Bitcoin slid on its graph and was trading at $21,000.
Other altcoins were additionally devalued following BTC's price action. Throughout recent hours, the Ethereum price fell by 4%. It has been a continuous downtrend after the coin lost the $2,000 price mark. The technical viewpoint for Ethereum price was likewise negative as merchants had taken.
The live Ethereum price today is $1,598.69 with a 24-hour trading volume of $18,430,414,127 Ethereum is down 0.31% in the last 24 hours. The current CoinMarketCap ranking is #2, with a live market cap of $195,159,241,094 USD. It has a circulating supply of 122,074,629 ETH coins
Source : CoinMarketCap
ETH Price statistics 24h price change is -$18.07, 24hlow is $1,535.01 and 24h High is $1,632.75 with 19.20% Market Dominance
ETH was trading at $1,567 at that time. It has been a steady drop for ETH since the coin fell below the $2,000 price mark. The ongoing extreme obstruction for the altcoin was at $1,700 and a move over that will push Ethereum's cost to contact $1,900. It is still to be seen if Ethereum maintains its stance above the support level.
Source: ETHUSD on TradingView
Right now Ethereum coin was trading incredibly near $1,500 which is its quick support level. The descending trendline was also crossing the value roof of $1,700, this makes the previously mentioned level a significant price ceiling. A measure of ETH traded expanded portraying that selling energy climbed.
Source: ETHUSD on TradingView
ETH's descending movement on its chart has made purchasers lose trust in the resource. Moving Average Convergence Divergence shows the value force and chance of an adjustment of the energy. MACD went through a negative hybrid and painted red histograms which are connected with the sell signal for the coin.
Related : Ethereum Bears Aim Big After Recent Breakdown Below $1,600
