Ethereum Price Analysis: ETH Price Drops Tremendously Overnight

The crypto market was spotted recovering on the ongoing week. However, since yesterday, the ETH coin is falling off the cliff and with no correction in between. The same might lead to another price crash. The weekly high price is $141, and the low is marked at $121. The coin has already dropped to $129 on the intraday chart. It looks like the upcoming days might bring furthermore declining movement.

ETH/USD Price Chart

Yesterday, Ethereum started dealing at $138, and within the first 30 mins, the price spiked at $141. Later, the coin slightly plunged to $139 and remained intact till 04:00 UTC. Then, the ETH price escalated to $140 in the later hours but couldn’t hold itself at the level and slipped to $136 by a 2.90% fall. The pace of slipping decreased, but it kept the trend intact, and at 13:30 UTC, the coin was spotted at $134. Thereafter, ETH coin experienced marginal improvement that took the price to $137 at 22:57 UTC. The closing hour marked a steep fall, which brought the price of Ethereum to $130 and ended the day at the same.

Today, the currency started with a slight fall but later regained $130 price level. The ETH coin locked itself around $129 for almost the first three hours. Later, it dropped by 3.64%, and the price was spotted at $125. After this plunge, the currency improved in the later hours, and now, the coin is trading at $129. The current price of Ethereum has breached the immediate support level at $131 and is at the next support level at $129. However, as per the current momentum, the coin is likely to exhibit slight growth.