- Ethereum’s value took a peculiar turn in the last week and lost almost 18% to fall below $215
- ETH may find the next support around $203
Ethereum price has slipped to $210 price range from $260 price range in a week. The total loss stands at a whopping 17.92%. There have been three major price variations in this period.
Ethereum Price Analysis
ETH price was being traded at $260.66 on February 20, and over the next 13 hours on the same day, it lost 5.37% value and got placed at $246.67. It was followed by a price recovery of 12.62% that pushed the Ethereum price to $277.81 by February 24. This was the top point for ETH coin in this week. However, it couldn’t stand there for long. Between February 24 & 27, Ethereum’s value moved through a slope of 23.83% and reached the abysmal low $211.62. However, after reaching this low, it has initiated a price recovery, and at the time of writing this analysis, the currency was trading at $213.
Ethereum’s current price is lagging behind its 50 days MA ($222.76) and 20 days MA ($217.67) by the right margin. On the MACD scale, the signal line is trending above the MACD line. It hints at an expected delay of a bullish period. As per our prediction, Ethereum may seek the support of $203.82 in the short-term. However, if it reverses the ongoing trend, ETH may trade towards the next resistance of $240 in the upcoming days.