Bitcoin and Ether Market Update March 11, 2021

ETH/USD

The Ethereum Project token ETH was experiencing a huge upside reversal ever since it hit a low bottom of $1,290 on February 28. The coin was quick in initiating its recovery and increased by 21.4 percent for the last seven-day period. It closed the trading day on Sunday, March 7 at $1,729 and moved above its short-term EMAs. Looks like bulls were on track to reach the next supply zone area near $1,759.

The start of the new week was solid for the ETH/USD pair as it easily skyrocketed up to $1,835, surpassing the mentioned resistance and adding yet another 6 percent to its value.

In the next 24 hours, we saw a continuation of the upward movement and a new monthly high, this time $1,872 on Tuesday evening.

On Wednesday, March 10, the leading altcoin started moving South. It corrected its price down to $1,790 after hitting a daily low of $1,753.

The ETH token is trading even lower, at $1,770 midday on Thursday, currently situated in the previous supply zone.

Source: Read Full Article