ETH/USD
The Ethereum Project token ETH peaked at $1,978 on Sunday but was unable to print a new high most probably as a direct result of the already exhausted short-term uptrend. The leading altcoin closed the day and the week in green but was not in a position to consolidate in the area mainly due to the lack of high incoming trading volumes.
On Monday, it followed the example of BTC and the rest of the major altcoin and registered a double-digit loss by nosediving to $1,542. It partially recovered by climbing back up to $1,777 at the daily close, but the overall market sentiment was turning bearish.
The Tuesday session was no different and the ether erased another 11 percent of its value. It is worth noting that the ETH/USD pair was trading at $1,351, or right below the short-term EMAs during intraday.
The third day of the workweek was a good one for buyers. The price of ether was moving up and down between the 26 and 50-day EMAs before closing with a short green candle to $1,630 on the daily chart.
The coin is trading flat as of the time of writing this article.
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