The post Why Ethereum (ETH) Price Is Down Today? appeared first on Coinpedia Fintech News
The crypto market crash today has resulted in a liquidation of 3.59% from its global valuation. This came hours after the U.S. stock market correction with Nvidia Wiping out $279 Billion from its portfolio.
Following this, Bitcoin price plunged below $58,000 and recorded a low of $55,673.16. On the other hand, the altcoin leader, Ethereum price experienced a similar price trend by plunging below its $2.4K level.
Considering the historic market market pattern, will ETH Coin Price bleed this September or make a bullish comeback and reclaim the $3K mark?
ETH Crypto Fails To Break Out Of Its Crucial Resistance Zone
The Ethereum token has failed to break out of its resistance trendline of the descending channel pattern. This has resulted in it losing 6.18% of its portfolio within the past 48 hours. With a 24-hour trading volume of $15.800 Billion, it has recorded a low of $2,313.27.
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