Bitcoin and Ether Market Update February 18, 2021

ETH/USD

The Ethereum Project token ETH reached an all-time high of $1,875 on Saturday, February 13. The coin started correcting its price in the evening part of the session as profit-taking activities were kicking in. The coin was taking a breath before preparing the long-expected attempt to break the psychological level of $2,000. It ended the seven-day period at $1,802 or 11.5 percent up compared to where it was the same time a week ago.

On Monday, the ETH/USD pair continued to slide. It dropped as low as $1,660 as the entire altcoin market was severely bleeding. Still, the coin managed to recover during the second part of the trading day and used the $1,775 level as support to close the daily candle at $1,780.

The ether remained flat on Tuesday and even though it was moving up and down in the $1,720 – $1,820 zone, it avoided further losses and stabilized in the support area.

The third day of the workweek came with another run to $1,850. The level was now acting as horizontal resistance. This move resulted in 3.6 percent being added to ETH’s valuation.

As of the time of writing, the ether is trading at $1,895

4-hour chart:

Source: Read Full Article