Ethereum (ETH) Price Continues to Fall as Bears Dominate the Market!

Ethereum (ETH) Price Continues to Fall as Bears Dominate the Market!
  • Ethereum has been down 6.22% in the last 24 hours.
  • The price of ETH is now circling around the most critical levels.

After a brief recovery period, the crypto market has again taken a turn for the worse. Volatility has risen, making it possible to lose a significant amount of money. A negative trend emerged when Bitcoin’s price couldn’t hold its gains over $36,000. In any case, the present effort by Ethereum price to consolidate within these levels seems to be failing.

Read More: Ethereum Price Prediction

The ETH price is seen as a stable asset with a slowed-down rise. Whatever the case may be, the asset does not see a significant spike in price despite the negative trend. The price of ETH is now circling around the most critical levels.

Support Level Breached

It had broken out of the immediate support earlier in the day around $2320 and was swinging slightly above the following support. Even though it is now heading in this range, the chances of a comeback are still relatively low.

ETH/USDT: Source: TradingView

An intermediate rise in ETH prices helped hold the price over the $2400 barrier, as was previously indicated, despite the market’s extreme pessimistic emotions. Furthermore, the technical signs suggest that the asset might enter a bear market with a sharp decline.

There is still a lot of uncertainty around the Ethereum price, putting it in a less-than-ideal situation. In order to avoid a crash below $1800, the asset must maintain the support levels closely. According to CoinMarketCap, the Ethereum price today is $2,275.41 USD with a 24-hour trading volume of $23,787,051,098 USD. Ethereum has been down 6.22% in the last 24 hours.

A devoted content writer having 3 years of crypto trading experience. Loves cooking and swimming. Stays up to date with the latest developments on blockchain technology.