Ethereum Price Analysis: ETH Falls Below $138 After Recent Decline

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Ethereum (ETH) News

Ethereum’s current value has fallen from $138 to $137. Over the last 24 hours, it has been down by a marginal drop of 0.60%. There have been three huge price changing swings observed in this period. It may trade downwards in the upcoming days.

ETH/USD Price Chart

Ethereum (ETH) Price News

From the last week, Ethereum traded with moderate momentum and continued to stay above $120. Yesterday, the currency opened the day at $138.52, and in the first 9 hours and 40 minutes, it added $4.12 and pushed the price to $142.64. However, after breaching key resistance $140, ETH price faced a steep fall of 6.26%, and the value touched $133.71 by 11:39 UTC. It was the lowest point of the coin for the day.

Later, the currency continued to trade with a moderate momentum, but again during the last hours of the day, ETH price retest $133 price mark, and then it gathered momentum again. By 04:04 UTC, the coin managed a sharp recovery and reached beyond $138. After hitting $138.81, Ethereum faced a marginal drop, and it started trading downwards.

At the time of writing this analysis, ETH trades without having support from daily MAs. The RSI of Ethereum is now around 45 points. As per technical indicators, the currency may test its crucial support $135 before making any steep movement.

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