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Technical analysis
Ethereum hits new All-Time High for the third time as Cryptos Total Market Cap reach $1.13 Trillion
in Technical analysis
Reading Time: 2 Min read

The price of Ethereum, the second-largest cryptocurrency, hits another all-time high for the third time this year. Ethereum, after hitting two highs in January, hits an ATH during the early trading hours of today. 

The price of Ethereum created two highs back in January, but it failed to hold at the highs before it plunged as other cryptos pullback. The two highs that were created back in January are $1,440 and $1,476 according to the data received from TradingView. Price lost momentum when the first high was hit on the 19th of Jan. losing over 24% after 48hours. A couple of days later, the bulls attempted a new high and they reached $1,476 on the 25th of Jan. but the bulls failed to hold again at that level as the price got rejected back to $1,205 48hours after the second high was created in January. 

February has been a good month for Ethereum and other cryptos as well, as the price of Ethereum closed above the previous two highs that were created in Jan. on the 2nd of Feb, hitting $1,698.56 ATH. 

Ethereum hits $1,698.56 all-time high during the Asia market but the price has slowly moved below the ATH as it is presently trading at $1,643.60 as at publishing time. 

Data received from CoinGecko suggests that the crypto market has been increasing for the last 7 days, taking the crypto total market cap to $1.13 Trillion. The crypto market hit $1 Trillion last month and it has now surpassed the $1 Trillion mark by $136 Billion. This seems like the beginning of success for the crypto market as it is getting widely accepted and more institutions are investing in it. 

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Tobi Ismail

Tobi is a full time day/swing trader with 3 years’ experience in the currency and commodity market. He is interested in cryptocurrencies in combination to the current financial system. Tobi holds a bachelor's degree in Agriculture.

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