Bitcoin and Ether Market Update February 11, 2021

ETH/USD

The Ethereum Project token ETH started pulling back after reaching a new all-time high of $1,761 on February 5. In its second consecutive session on the negative territory, the coin fell all the way down to $1,487 during intraday trading on Sunday, February 7, and eventually ended the week at $1,611. This corresponded to a 22 percent of growth on a weekly basis.

On Monday, the ether, which was also fueled by the Tesla news, skyrocketed to $1,776 during midday then lost few dollars of its value and ended the day at $1,750, or 8.6 percent higher.

The Tuesday session was quite a volatile one for ETH as it was moving in the wide range between its new highest point of $1,822 and $1,709. In fact, the whole altcoin market was moving in a price discovery territory.

Still, the coin drew a short green candle body to $1,769 on the daily chart.

The mid-week session on Wednesday was again a volatile one. ETH traded in the $1,680 – $1,84 zone before closing with a loss at $1,740.

The coin is trading at $1,766 midday on Thursday.

Below is the 4-hour chart:

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