Last week, the bears pushed Ethereum to the bottom of the chart. Ethereum nosedived to the low of $101 but pulled back above $120 to resume a sideways trend. The bulls could not push price above $140 resistance. Ether is also repelled each time price tested the resistance level. This also explains that ETH lacks buying power at a higher level.
The Dutch Red Cross now accepts bitcoin and other cryptocurrency donations to combat the consequences of COVID-19. This move was probably caused by the need to increase the amounts of donated funds to boost research.
The downtrend continued to a low of $101 on March 12. Later, Ether pulled back above $120 and resumed consolidation. As the market is oversold, buyers are likely to emerge. The uptrend is likely if the price is sustained above $120 support.
Surprisingly, after impressive moves to a high of $246 on March 7, Ether has dropped to a low of $147. The initial fall was to a low of $200. After three days of consolidation above $200, the bears took the initiative to continue the selling pressure. The market has reached a low of $147. There is a likelihood that the fall will extend to a low of $125.
The entire cryptocurrency market is continuing to register massive losses. It is not even a month ago when Bitcoin was trading more than $1,450 (on Feb 13), but look at it now crawling in a price range of $7,600 - $7,900. That means that BTC alone has managed to decline by over $6,100 (declined almost by a half). And it brings more worry and loss of hope among the cryptocurrency community.