Ethereum (ETH) May Reverse Its Last Week’s Gaining Spree

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Ethereum (ETH) News

Ethereum price has been jacked up by a whopping 19.37% over the last week, and its value has neared $170 all the way from $141. However, despite this tremendous hike, over the last two days, ETH trades with moderate bearish hold. And hence it may soon reflect downside correction.

Ethereum Price Analysis

Ethereum (ETH) Price News

ETH/USD was at $141.03 on March 03, and over the next four days, it got a massive hike of almost 25% that took the price to $175.51. After hitting this mark, ETH coin started reflecting slight bearish movement, and on April 07, its value contracted by 8% and got slackened to $161.47. However, it managed to raise its head again by April 09 with a 5.86% gain. This swing took the price of Ethereum from $161 to $171. However, the overall momentum is a downward one, and soon, the coin may correct down towards its crucial support $158.

Ethereum’s current value is lagging behind its 20 days MA and 50 days MA by 0.24% and 0.70%, respectively. Its RSI has not improved significantly over the days. It is still at 43.15 points. As per the technical indicators, ETH coin may not reflect any improvement soon.

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