Bitcoin and Ether Market Update August 26, 2021
ETH/USD
The Ethereum Project token ETH remained relatively flat in the zone around $3,230 on Sunday, August 22, and in general, was struggling to continue the rally that started a few weeks ago. The biggest altcoin has been trading in the $3,000 – $3,320 area since August 8 without being able to make a breakthrough in any of the two directions.
It ended the last week with a 1.77 percent loss.
On Monday, August 23 though, bulls managed to push the price up to $3,374 and print a new local high. The move was partially retraced later in the session.
The second day of the workweek came with a 4.7 percent pullback down to $3,160 as the majority of the leading indicators were already pointing towards a reversal, just like in the case of bitcoin.
On Wednesday, August 25, the ether fell down to $3,037 in the first part of the session, but found stability at the 21-day EMA and quickly rebounded, eventually closing in the green.
As of the time of writing, the ETH/USDT pair is trading significantly lower, at $3,100 or 3,9 percent down from last day’s closure mark.
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