Ethereum breaks below $150 as Analysts Eye Next loss
At the time of writing, Ethereum is quoting down almost 2% at its current price of $149.80. Indicating a significant drop from its daily high of less than $160 set yesterday.
It is important to keep in mind that ETH is currently moving away from its recent lows of $147 that were set simultaneously with the $7,200 decrease in BTC this morning. And its bulls have so far defended this level of close support. They are able to do it.
The Ethereum bulls have been able to put a significant amount between their current prices and recent transactions of $130. Which established during the capitulation episodes observed in the recently assembled crypto market, led by the decline in Bitcoin. It cost $6,500.
Popular cryptocurrency analyst Nick Patel talked about the Ethereum price action in a recent blog post. He pointed out that any Bitcoin could be exaggerated further in Ethereum’s USD trading pair.
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