ETH/USD
The Ethereum Project token ETH ended the previous seven-day period with an 11 percent loss. Still, the coin managed to draw a short green candle to $2,240 on Sunday, June 20 after 5 consecutive days in red, which drove the price below the $2,500 horizontal support, the 21-day EMA, and the lower boundary of the long-term uptrend corridor.
The selloff intensified on Monday as the Chinese government resumed its crackdown against cryptocurrency mining and trading activities. The ETH/USDT pair dropped by 16 percent and closed right at the 200-day EMA below the $2,000 mark (at 1,870) for the first time since May 23.
On Tuesday, the ether fell further to $1,700 for the first time since March 29 in what was seen by many as the final capitulation of bulls before a potential upside reversal. The coin recovered in the evening part of the session, closing at $1,870.
The third day of the workweek came with a good 4-percent jump and a green candle to $1,960 on daily, but ETH was not looking as strong as Bitcoin at this stage as the biggest cryptocurrency seemed to be the one leading market recovery.
On Thursday, the coin is trading at $1,933, below the February high, which might be turned into resistance now.
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