Ethereum Market Overview: ETH/USD bulls fail at $140 mark as whales move $4 million in the last 24 hours

22 Mar 2019

Ethereum Market Overview: ETH/USD bulls fail at $140 mark as whales move $4 million in the last 24 hours

ETH/USD went down from $140 to $135.50 this Thursday. This is the second time this week that the bulls failed to keep the price of ETH/USD above $140.

ETH/USD bulls have faltered at the $140 mark again as the price plummetted to $135.50 this Thursday. The bulls will need to defend the support level at $132.50 to make sure that the market doesn’t drop any further. In the meantime, Ethereum whales have transferred nearly $4 million worth of ETH tokens in the last 24 hours. Here are the whale movements:

7,499 ETH (1,019,298 USD) transferred from Gemini to Unknown wallet. 10,000 ETH (1,359,553 USD) transferred from OKEx to Unknown wallet. 12,000 ETH (1,633,927 USD) transferred from Bitfinex to Unknown wallet.

ETH/USD daily chart

The ETH/USD daily chart creates a triangle formation, which sees a bearish breakout. The last session has caused the price to cross below the 20-day simple moving average (SMA 20) curve, even though the market is still trending above the SMA 50 curve. Before the last session, the relative strength index (RSI) was trending above the neutral zone, however, the RSI now is trending strictly in the neutral territory.

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