Connect with us

Hi, what are you looking for?

ELEVENEWS

Ethereum

Ethereum [ETH] Slips After Hitting A New All-Time High

Bitcoin was winning big at the beginning of the month. Ethereum [ETH], however, failed to hit its previous all-time high. Nevertheless, ETH did not give up. The altcoin hit an all-time high of $1,467.78 on 25 January 2021. Bitcoin at this time was seen swimming down in the $31K zone. The dominance of the king coin rose up to 63.19% despite its price depleting over the last few days. The overall cryptocurrency market cap was at a low of $915.03 billion.

Other coins like XRP was going down. As Ripple was hit by yet another lawsuit which pushed the coin down to a low of $0.25.

Ethereum [ETH], at the time of writing, was trading for $1,273.27 with a 3.81% drop in the last 24-hours. The market cap of the second largest coin was at $144.9 billion. Albeit the all-time high, ETH recorded losses of over 7.22% over the week.

Ethereum [ETH] Four-Hour Price Chart

Ethereum

The four-hour price chart of ETH on the crypto exchange, Binance revealed that there wasn’t going to be any major changes in its price. The Bollinger Bands indicator was seen coming close which suggested that no increase in volatility was bound to happen. The Awesome Oscillator indicator laid out red closing lines which pointed out the presence of bears in the ETH market. The Klinger Oscillator also exhibited a bearish notion.



Ethereum [ETH] Price Chart With Indicators

Ethereum

A sellers’ sentiment had struck the ETH market. The Money Flow Index indicator was seen down below 30 median which suggested that ETH was exhibiting a sellers’ predilection. The Relative Strength Index [RSI] was also under 50 median which again represented the market’s inclination towards the sellers’ side.

All of these signs were implying that ETH wasn’t going to go beyond its ATH any time soon. ETH had wait for several years to move past its previous high, however, the coin could prolong its latest one for a while.

News Source

Advertisement
Advertisement

Copyright © ELEVENEWS