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Ethereum volatility

Why Ethereum turns red again?

What's in this article

Ethereum spiked up more than 11% after December to $4087. Ethereum is losing the momentum again and there are seen some continuous red candles.

 Ethereum price today is $4,117.83 USD with a 24-hour trading volume of $16,711,940,643 USD. Ethereum is up 3.32% in the last 24 hours, with a market cap of $489,448,606,210 USD. It has a circulating supply of 118,860,688 ETH coins.

Ethereum
Source: Tradingview

Ethereum: Analysis 

In the above chart, red dotted lines are at highs and greens at lows. The chart is self-explaining we can see that Ethereum successfully broke above the previous high of $4032. Ethereum is moving actually under a reversal wave to the previous trend line, considering it a support – just like Bitcoin. The resistance level is above EMA 200 at $4169, fib 0.5.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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