Are the Bubbles of Crypto Currencies Busting?

Ethereum witnessed a robust rally from the low of USD 549.25 made on December 2020 to a new lifetime high of USD 2,047.80 on 20 February 2021, a gain of ~273 percent in this short span. It has broken out of its upward trend line at USD 1,610.50 level on the daily chart and made a new lifetime high.

Ethereum prices are falling with a surge in volume , that clearly indicates higher participation by traders during the bearish down trend. Currently, the price is trading below the 21-period simple moving average (SMA), which indicates that the bears have the upper hand in the short run.

 


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