Ethereum Price Analysis: ETH Lost 40% in One Week; May Continue to Consolidate
Following the path of all other major coins, the second largest coin, Ethereum, has also slipped. Over the last seven days, it has lost more than 40% of its value, and its price against USD has dropped from $200 to $117.
ETH/USD Price Chart
Ethereum price was trading at $200.72 at the starting of the day, and over the next two days, it lost 55.16% value and got down to $90 after losing a massive $110. It was followed by a short stint of recovery that added $43.24 in the value, and the price of ETH coin touched $133.24 in the next two days. However, this growth cycle couldn’t sustain for long. Between March 16 & 19, Ethereum’s value got subdued by 12.13% and reached $117.08.
Ethereum’s current price is struggling against its 90 days MA (117.69) and 200 days MA ($117.31). Its RSI is now hovering around 50.04 points. It shows that the demand in the market is at its one of the lowest points. As per the past two days’ price trend, the ETH coin faced consolidation around $115 and might continue to trade in this range for some time before registering any steep movement.