- Ethereum price with its momentary upsurge traces $180.
- Though being a lucrative investment, ETH suffers from a ‘short-lived’ gush.
- ETH price unable to find a proper support from the short-term moving averages other than the 5-day EMA. This brings Ethereum under strong selling pressure.
Ethereum dipped as low as $167 in the past week’s recession of the crypto market. However, Bitcoin has made a massive revival above $10,000 to help us to readily restore the belief. With this the major coins like ETH, XRP and few outperforming altcoins were expected to make a leap. But ETH’s past 24-hour movement seems to have remained pale only.
ETH to USD Price Chart by TradingView:
The below Ethereum price chart is a data feed from COINBASE as on 3rd September at 11:13 UTC.
As observed from the above 24-hour movement of the coin, ETH/USD was trading around $172.07 in the initial hours of the day yesterday. After a half day of almost flat trading, Ethereum picked up the pace around the same hour when Bitcoin broke the major resistance at $10,000 and Ethereum price at $180. Trading slightly beyond at $181.53, ETH price couldn’t hold it enough and fell to the lowest at $175.19 today.
Currently the coin is trading at $176.70, with a 2.66% plunge from the highest of the past 24 hours.
Technical Indicators:
As price of Ethereum falls back to the same pit around $176, from where it grew to break the major resistance at $180, it again trades with a selling pressure. Facing a major resistance at $180, the coin gains support from 5-day EMA at $175.95.
At present, the major support for ETH trading price remains at $175, if it falls even further the coin will see $173 and $170 as the immediate support.
Whereas, the current trading price is 0.7% and 0.16% lower than the respective 9-day SMA and 9-day EMA.
The MACD of the coin remains in the negative array with a bearish crossover, while the remains slightly above 30, more inclined towards the oversold region.
