Bitcoin and Ether Market Update September 2, 2021
The Ethereum Project token ETH continued to trade in the $3,320 – $3,000 zone for more than 22 days, which according to the majority of the cryptocurrency market analysts represents a consolidation phase after the rapid increase before and after the last major network upgrade.
On Sunday, August 29, the ether closed at $3,218 in its second consecutive day in red, but still, it remained flat on a weekly basis even though it was moving up and down the wide range between $3,370 and $3,057.
The Monday session was when bulls tried to push the price of ETH above the $3,320 mark, but once again it resulted in a failure. The coin closed flat.
On Tuesday, August 31, the ETH/USDT pair bounced back up from the 21-day EMA on the daily timeframe and broke out of the range, eventually closing at $3,420 or 5.8 percent higher. It was 35.4 percent up on a 30-day basis.
The mid-week session on Wednesday came with a second consecutive day in green and a new mid-term record – $3,841.
As of the time of writing, the leading altcoin is hovering around the $3,750 zone.
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