Ethereum (ETH) had been engulfed by the ongoing bearish volatility in the crypto market at regular intervals. The coin has been trying to move in the upward direction since the start of 2020 and now has slowly managed to do that. The past one day also saw the price undergoing the market pressure at the start of the day, but as the day progressed, the currency managed to push ahead of the pressure in the upward range.
Ethereum Price Analysis
ETH price showed a good upward momentum yesterday. The coin started below the baseline at $261.86 at 1:53 UTC in the next 8 hours; it took an upward swing and reached a high of $275.06, showing an upsurge of 4.99%. After this hike, the Ethereum price got pushed down to $269.27 by a moderate fall of 2.14%. Then, it marked a steep upward movement and managed to reach $273.03. There was a momentary hiccup for the price of Ethereum when it slid down to $270.55 at 20:52 UTC. ETH price has again fallen today slightly to $267.36 at the time of writing this analysis.
Ethereum is gearing itself to move out of the bearish momentum, as seen from its price movements since the start of the year. The past one-day price trend for the coin also indicates the same, and as per current movement, it may soon breach previous resistance $278 again soon. Analysts are banking on this capability of the second most popular coin to live up to its potential and move towards a steady momentum during the year.