![](\"https:\/\/btcmanager.com\/wp-content\/uploads\/2021\/03\/btcusdt2503-1120x487.jpg\")
<\/p>\n<\/p>\n
The ETH\/USD pair dropped down to $1,747 on Sunday, March 21 in a short-lived pullback during the Asia session then went back up to its preferred zone around $1,790. The coin, however, was spending too much time in the weekly resistance range between $1,890 and $1,780 without being able to surpass it, which was putting it at a risk of trend reversal given the fact the relative strength index exhaustion. It ended the seven-day period with a 3.5 percent loss<\/p>\n
On Monday, the price of ether finally broke below the horizontal support and the triangle pattern and corrected its price down to $1,683 \u2013 a level last visited on March 7. Additionally, it lost all major short-term EMAs on the daily timeframe at once.<\/p>\n
The upcoming options expiry on Friday, March 26 was the most probable reason for the sudden market selloff with a total of $1.15 billion of put and call options expected to expire by the end of the workweek. This, according to the majority of the veteran traders might cause a general lack of consistency in the price behavior.<\/p>\n
![](\"https:\/\/btcmanager.com\/wp-content\/uploads\/2021\/03\/ethusdt2503-1120x483.jpg\")
<\/p>\n