Ethereum (ETH) News

ETH Exhibits Consolidation After Double-top Formation at $266

Ethereum (ETH) was spotted making improvements during yesterday’s movement. However, the closing of the same is around $264. There was strong anticipation that the currency would be seen escalating in today’s trading. The momentum of the ETH coin fell apart from the beginning of the day. The anticipations were ruined. The chances of improvement are very scarce. The currency is recommended for long-term traders. The same might bear the loss and gain profit.

Ethereum Price Analysis

Ethereum (ETH) Price News

Ethereum coin started the day at $257 on February 21, and in the first 30 minutes, the price plunged to $254 by 1.08%. The currency escalated to $262 by 2.79% hike in the next two hours. The price was at $258 at 03:00 UTC. The ETH coin price escalated to $263 but later dribbled to $258 by 2.19%. After that, the currency escalated to $262 and continued to climb till $266. After such a sharp upward move, Ethereum price was seen moving hastily for the next 6 hours, and it traded from $262 to $265, then dropped to $263, and later, the coin touched $268.

At 20:03 UTC, the coin dribbled to $261 by 2.40% fall. The price again escalated to $266, and the same formed double top pattern. The day closed at $264, and the intraday movement in the ETH coin reflected a 2.93% progression in the price. Today, the Ethereum price started dealing at $264. Later, the coin dribbled to $257 from $266 by 3.45%. After this correction, the currency marked improvement and touched $261; however, at the time of writing this analysis, the coin was trading at $258. The coin has violated the immediate support level. If the momentum improves, then the coin would climb to the immediate resistance level at $269 in the upcoming days.

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Everett Dooley

Everett Dooley is a Finance and Cryptocurrency Analyst He has worked for almost a decade on several financial projects related to the stock market news, fundamental research and technical analysis for several websites. He obtained his Masters Degree In finance.

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