• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Ethereum

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

Yashu Gola by Yashu Gola
4 days ago
in Ethereum
Reading Time: 2min read
Ethereum (ETH/USD) Falls 26% From Historic High; What’s Next?

Blackboard with the text Whats next?

Advertisement

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.

Ethereum, ETHUSD, ETHBTC, ETHUSDT, cryptocurrency
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.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

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.”

Tags: cryptocurrencyethbtcethereumethusdETHUSDT
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Related Posts

Ethereum, ETHUSD, ETHBTC, ETHUSDT, cryptocurrency

2 Reasons Why Ethereum Could Reclaim Record Highs Above $2,000

4 days ago
Ethereum

Analyst Explains Why Ethereum (ETH) Could Hit $5,000 in 2021

1 week ago
Ethereum Triangle Breakout Shifts Price Target to Over $2,000

Ethereum Triangle Breakout Shifts Price Target to Over $2,000

3 weeks ago
Ethereum, ETHUSD, ETHBTC, ETHUSDT, cryptocurrency

Ethereum Nears All-Time High Despite Alarming Bearish Signals

4 weeks ago
Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

1 month ago
Ethereum

Ethereum Rallies Towards All-Time Highs as BTC Stalls; What Analysts are Saying

1 month ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Bitcoin Gaming Platform FreeBitco.in Acquires 3.75 Billion FUN Tokens

February 26, 2021

60-Minute IFO, 187 Times Over-Raised, 40 Times the Price, 98 Million US Dollar Marketcap: Berry Data Has Become a Bright Star on BSC

February 26, 2021

Get Your Brand New Tokens on Defiqa’s Presale

February 26, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.