Ethereum

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.

Yesterday (March 9), the cryptocurrency market started with the price of most stocks plummeting. All of the top 10 stocks fell, and 96 of the top 100 received a red light, meaning a drop.