The crypto currency market is under pressure. The ethereum is slowly recovering

The market of crypto currency remains under pressure. Most of the major digital currencies on average losing about -12.0% of the value in the last 24 hours. Pressure on the market is exerted by fear of a more stringent regulation of trades, pessimistic sentiment on the security issue of the crypto currency. The pressure on the market is also exerted by the fact that a number of countries consider the crypto currency as a tool for conducting illegal operations, and, therefore, Indian Finance Minister Arun Jaitley has promised to apply severe restrictions on the trade in crypto currency.

Among all the leading crypto-currencies in the world, it is worthwhile to highlight the Ethereum, which holds its positions in the market with all its might. It should be noted that the capitalization of the Ethereium today is about $ 109.00 billion, and Bitcoin’s capitalization is $ 168.00 billion, although Bitcoin’s capitalization more than twice more than the capitalization of the Ethereum.

Technical analysis: The price of the Ethereum moves in an upward trend, which began in the middle of January. The main support levels, from which it is worth considering purchases of crypto currency are $ 1035.00, $ 1000.00. The nearest level of resistance are $ 1135.00, in the event of a breakdown, one should expect a retest of the January maximum at $ 1209.00.

Fig. ETH/USD. Current price – $ 1099.94

Alexander Sivtsov