Ethereum Declines by 5% in the Last 24-hours; Shows No Signs of Improvement

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Ethereum (ETH) has been declined by 5% over the last 24 hours and it has been through five significant price changes, within the mentioned-time. The range of price movements has been between 174 USD and 165 USD. The current trading value hangs around 167 USD.

As per report, ETH’s first spike started at 00:07 UTC and over the next 7 hours and 13 minutes, it flops by 2.92% to 169 USD. The next variation started at 11:58 UTC and it fell to 165 USD by 15:30 UTC. It was followed by a hike in the value by 3% that added 4.95 USD to the value and placed it at 170 USD. After a few hours of volatility, ETH was inclined by 3.65% and reached the second peak at 172 USD only to witness a declination of 2.50% that took the value to 167 USD (as per 04:13 UTC, today).

ETH’s current price trend seems to be continually chasing its 20 days and 50 days moving averages. However, it is below both the stated indicators as of now. The next is expected to come at the support of 162 USD. The market cap is likely to be devalued even more in the upcoming days if the trend remains declining.