Ethereum fell Monday in sync with the cryptocurrency market’s other top assets, including Bitcoin, Binance
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Ethereum Watch
ETHEREUM and ICO TOKENS
Ethereum fell Monday in sync with the cryptocurrency market’s other top assets, including Bitcoin, Binance
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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>Coin, Polkadot, and Cardano.
The second-largest cryptocurrency touched a record high of $2,041 during the weekend session that prompted daytraders to secure their profits. That led to a considerably larger sell-off throughout the weekend and Monday session, taking the ETH/USD exchange rate lower by as much as 26.11 percent to $1,508.
Ethereum slips amid broader crypto market sell-off. Source: ETHUSD on TradingView.com
Elsewhere in the cryptocurrency market, almost every high-cap asset suffered major intraday losses.
Bitcoin, the flagship digital asset having an extremely high positive correlation with Ethereum, plunged up to 19.99 percent from its session peak above $58,000. Likewise, Binance
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Meanwhile, Teddy Cleps, an independent market analyst, noted that the ETH/USD rates could still achieve a new all-time high, providing it maintains support above a so-called cloud price floor.
Ethereum eyes $5,000, as per Teddy Cleps. Source: ETHUSD on TradingView.com
“Ethereum getting squeezed between $2,000 and the cloud,” Mr. Cleps said. “[The] same exact price action that we had a few weeks back, when price was getting squeezed between the cloud and the 2017 all time high. Have patience, $5,000 is coming.”
