• Contact Us
  • Privacy Policy
  • Live Exchange
  • LIVE ICO
  • Shop
Monday, March 1, 2021
CryptoNewsking.com
Advertisement
  • Home
  • LIVE UPDATES
    • Live Coin Market Cap
    • Live Exchange
    • LIVE ICO
  • News
    • Crypto News
    • Bitcoin News
    • Ethereum News
    • Blockchain
    • Altcoin News
    • Exchanges News
    • Wallet News
    • Regulation
    • ICO
  • Guide Reviews
    • How to Buy Crypto
    • Bitcoin 101
    • Ethereum 101
    • Blockchain 101
    • Mining 101
    • Coins
    • Exchanges
    • Wallets
  • Market
  • Price Analysis
  • Business
  • Videos
  • Shop
No Result
View All Result
  • Home
  • LIVE UPDATES
    • Live Coin Market Cap
    • Live Exchange
    • LIVE ICO
  • News
    • Crypto News
    • Bitcoin News
    • Ethereum News
    • Blockchain
    • Altcoin News
    • Exchanges News
    • Wallet News
    • Regulation
    • ICO
  • Guide Reviews
    • How to Buy Crypto
    • Bitcoin 101
    • Ethereum 101
    • Blockchain 101
    • Mining 101
    • Coins
    • Exchanges
    • Wallets
  • Market
  • Price Analysis
  • Business
  • Videos
  • Shop
No Result
View All Result
CryptoNewsking.com
No Result
View All Result
Home Bitcoin News

Ethereum (ETH/USD) Falls 26% From Historic High; What’s Next?

02/22/2021
in Bitcoin News
0
Ethereum (ETH/USD) Falls 26% From Historic High; What’s Next?
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Ethereum fell Monday in sync with the cryptocurrency market’s other top assets, including Bitcoin, Binance Coin, Polkadot, and Cardano.

The second-largest cryptocurrency touched a record high of $2,041 during the weekend session that prompted daytraders to secure their profits. That led to a considerably larger sell-off throughout the weekend and Monday session, taking the ETH/USD exchange rate lower by as much as 26.11 percent to $1,508.

Related articles

A 15 y.o. boy Earns 0.5 BTC in One Day!

A 15 y.o. boy Earns 0.5 BTC in One Day!

02/22/2021
Three Reasons Why Metadata Privacy Is the Next Level Evolution Towards Data Privacy

Three Reasons Why Metadata Privacy Is the Next Level Evolution Towards Data Privacy

02/22/2021
Ethereum slips amid broader crypto market sell-off. Source: ETHUSD on TradingView.com
Ethereum slips amid broader crypto market sell-off. Source: ETHUSD on TradingView.com

Elsewhere in the cryptocurrency market, almost every high-cap asset suffered major intraday losses.

Bitcoin, the flagship digital asset having an extremely high positive correlation with Ethereum, plunged up to 19.99 percent from its session peak above $58,000. Likewise, Binance Coin, which notched closed the previous weekly session 171 percent high, dropped by 44 percent on Monday.

On the whole, the cryptocurrency market wiped off $149 billion off its valuation.

Support Held

Bulls were able to offer support as Ethereum continued its plunge into the US session Monday. So it appears, they capped the cryptocurrency from falling below its 50-day simple moving average (the blue wave). The ETH/USD rate fell towards it briefly before pulling itself back upward by 13 percent.

Meanwhile, the bounce-back attempt took the pair close to another support wave (the green one) called the 20-day exponential moving average.

Both the curves have limited Ethereum’s downside corrections in the past. In January, traders attempted to break the 20-EMA about nine times—and each attempt took the ETH/USD rates to a fresh high. Meanwhile, any slipover below the 20-EMA had bulls treat the 50-SMA as support.

Meanwhile, Teddy Cleps, an independent market analyst, noted that the ETH/USD rates could still achieve a new all-time high, providing it maintains support above a so-called cloud price floor.

Ethereum, ETHUSD, ETHBTC, ETHUSDT, cryptocurrency
Ethereum eyes $5,000, as per Teddy Cleps. Source: ETHUSD on TradingView.com
Ethereum eyes $5,000, as per Teddy Cleps. Source: ETHUSD on TradingView.com

“Ethereum getting squeezed between $2,000 and the cloud,” Mr. Cleps said. “[The] same exact price action that we had a few weeks back, when price was getting squeezed between the cloud and the 2017 all time high. Have patience, $5,000 is coming.”

Credit: Source link

Share76Tweet47

Related Posts

A 15 y.o. boy Earns 0.5 BTC in One Day!

A 15 y.o. boy Earns 0.5 BTC in One Day!

02/22/2021
0

An American teenager from Miami, Florida earned 0.7 BTC in one day. His name is Karl Miller and he is...

Three Reasons Why Metadata Privacy Is the Next Level Evolution Towards Data Privacy

Three Reasons Why Metadata Privacy Is the Next Level Evolution Towards Data Privacy

02/22/2021
0

Most people think metadata is something you only have to worry about if you are running an SEO campaign. However,...

Leading DeFi Projects to Follow in 2021

Leading DeFi Projects to Follow in 2021

02/22/2021
0

Without a doubt, dApps will continue to disrupt the crypto world as companies are investing heavily in the development of...

Bitcoin Drops After Record-Setting Rally; Is Bearish Bias Returning?

Bitcoin Drops After Record-Setting Rally; Is Bearish Bias Returning?

02/22/2021
0

Key Bitcoin Takeaways Bitcoin plunged by almost 5.5 percent on Monday after setting up a record high in the previous...

An Internet Free of Ad Cookies Is Now Closer Than Ever

An Internet Free of Ad Cookies Is Now Closer Than Ever

02/22/2021
0

Fractal Protocol offers a better experience for users and a fairer market for content creators When you visit a website...

Load More
  • Trending
  • Comments
  • Latest
OKEx to Restore Crypto Withdrawal Service on Its Platform by Nov 27

OKEx to Restore Crypto Withdrawal Service on Its Platform by Nov 27

11/23/2020
Blockchain-based Gaming Platform Exeedme Announces Strategic Investors And Partners

Blockchain-based Gaming Platform Exeedme Announces Strategic Investors And Partners

12/28/2020
Ethereum Starts Corrective Decrease, Why Recovery Could Be Limited

Bitcoin Miner Activity Suggests a Correction May Be Around the Corner

01/10/2021
Why ETH Could Find Strong Support At $1,000

Why ETH Could Find Strong Support At $1,000

01/10/2021
These factors are now a bottle-neck for Chainlink’s price

These factors are now a bottle-neck for Chainlink’s price

03/01/2021
3 reasons Bitcoin recovered by 8% overnight — Key levels to watch next

3 reasons Bitcoin recovered by 8% overnight — Key levels to watch next

03/01/2021
Here’s how the Purpose Bitcoin ETF differs from Grayscale’s GBTC Trust

Here’s how the Purpose Bitcoin ETF differs from Grayscale’s GBTC Trust

02/28/2021
Rewardiqa platform takes DeFi to the next level

Rewardiqa platform takes DeFi to the next level

02/28/2021
CryptoNewsking.com

CryptoNewsKing.com is a curated world cryptocurrency news online portal which aims to provide the latest crypto and blockchain related news with real time updates from all around the world.

Donate

Do you like what we offer? Your donation can help us continue to improve the services we offer. Please send your donations to the addresses below. Thank you for your support and may the crypto force be with you.

BTC 

35RWoVxFbnmySWFHtYNV28rU4Hyf5TrTXD

ETH

0x1B35F874152c7d597029007f98f1F2361179034B

LTC

MJ3Cv9NXPt8ZM9x6mDiHGUFpm5yhiNntwT

Subscribe to get more!

  • Contact Us
  • Privacy Policy
  • Live Exchange
  • LIVE ICO
  • Shop

© 2019 CryptoNewsKing.com - All rights reserved

No Result
View All Result
  • Home
  • LIVE UPDATES
    • Live Coin Market Cap
    • Live Exchange
    • LIVE ICO
  • News
    • Crypto News
    • Bitcoin News
    • Ethereum News
    • Blockchain
    • Altcoin News
    • Exchanges News
    • Wallet News
    • Regulation
    • ICO
  • Guide Reviews
    • How to Buy Crypto
    • Bitcoin 101
    • Ethereum 101
    • Blockchain 101
    • Mining 101
    • Coins
    • Exchanges
    • Wallets
  • Market
  • Price Analysis
  • Business
  • Videos
  • Shop

© 2019 CryptoNewsKing.com - All rights reserved