{"id":115992,"date":"2021-03-08T16:41:08","date_gmt":"2021-03-08T16:41:08","guid":{"rendered":"https:\/\/precoinnews.com\/?p=115992"},"modified":"2021-03-08T16:41:08","modified_gmt":"2021-03-08T16:41:08","slug":"bitcoin-ether-major-altcoins-weekly-market-update-march-8-2021","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-ether-major-altcoins-weekly-market-update-march-8-2021\/","title":{"rendered":"Bitcoin, Ether, Major Altcoins – Weekly Market Update March 8, 2021"},"content":{"rendered":"

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ETH\/USD<\/strong><\/h2>\n

The Ethereum Project token ETH hit a weekly low at $1,285 on February 28 and was already trading 37 percent lower compared to its $2,045 peak registered on February 20. It managed to recover to $1,422 by the end of the session, which corresponded to an 8.3 percent increase for the second month of the year.<\/p>\n

On Monday, the ether followed the example of Bitcoin and rapidly started moving upwards. It closed the day at $1,573 adding 10.6 percent.<\/p>\n

The coin erased half of if its gains the very next day by correcting its price down to $1,486, right below the 26-day EMA. The $1,590 – $1,610 area was the next major obstacle in front of bulls. It first acted as resistance back in early February, then again was a trouble area for sellers during ETH\u2019s freefall last week.<\/p>\n

On Wednesday, March 3 made a sharp turn North reaching the 200-day EMA on the 4-hour chart at $1,660, also above the already-mentioned resistance area. However, the momentum was not strong enough and bulls easily gave up on their gains ending the trading day at $1,570.<\/p>\n

The ETH\/USD pair was rejected for a second consecutive day near the mentioned resistance zone on Thursday. The area was now the crossing point of the 20-day EMA and the horizontal and diagonal lines.<\/p>\n

On Friday, the coin decreased further to $1,526 but not before hit a daily low of $1,441.<\/p>\n

The first day of the weekend came with a big green candle on the daily chart. The ether moved up to $1,647 breaking above the $1,620 zone to close the day with an 8 percent increase.<\/p>\n

Then on Sunday, it continued to move upwards by reaching $1,735 during intraday. The coin closed the week at $1,728 and is trading around $1,722 by the time of writing this market update on Thursday.<\/p>\n

Top 10 Movers<\/strong><\/h2>\n