The past few months brought a shift in the behavior of the crypto market itself, as well as numerous different individual coins. Among them, there is Ethereum, which started 2019 by taking back its spot as the second largest cryptocurrency by market cap from XRP.
Since then, ETH price started seeing recovery, first in February bull runs, and then in March as well. It even managed to grow from $126 to $140 during this period, which is an 11% growth against the USD. However, Ethereum, as well as other coins, have seen their first true rally in 2019 on April 1st, when the coins saw a massive surge that took Bitcoin up by around $1,000, while ETH itself reached $177 in a span of two days.
However, the surge was a bit too sudden, and as always, as soon as cryptocurrencies went too far up, a correction follows. In this case, as well, Ethereum dropped sharply past its support at $170 and was only stopped by the one at $160. The coin even briefly breached this support on April 4th, although it was back above it by April 5th, and its…