Late Friday, Ethereum succumbed to the pressures of the broader crypto market. Prices dipped under $1,800 for the 4th successive session.
The negative trend has kept ETH from pushing through the $1,800 barrier in the last seven days.
The month of April has seen a slow start. This is because inflation accelerated in May, and left a negative impact on cryptocurrency markets, whereas already the crypto market was impacted by the Federal Reserve’s tough financial measures.
Ethereum Downtrend Continues
ETH/USD a scăzut la un minim intraday de 1,602 USD în 24 de ore după ce a atins un maxim de 1,812.90 USD. Conform statisticilor CoinMarketCap, valoarea Ethereum a scăzut cu peste 7% în ultimele 24 de ore.
În ultimele 30 zile, Ethereum’s price has continued to fall under the barrier of a dramatic trendline.
Perechea ETH/USDT a cunoscut vânzări intense la mijlocul lunii mai, depășind nivelul minim de 2170 USD din ianuarie. Pe măsură ce piața criptomonedelor a devenit mai volatilă, presiunea de vânzare a scăzut. Acest lucru a dus la o scădere constantă, dar treptată.
Despite Ethereum trading low of $1,761, a look back over the last week showed a 0.33% price increase. Ignoring bearish attempts to lower the price helped ETH to remain beyond $1,750.
Ethereum price has fallen in reaction to the downturn of the first 15 days of May, reaching a new low of $1718. Multiple trials at this resistance point demonstrate the influence of market participants.
Scăderea capitalizării pieței Ethereum este legată de vânzări uriașe
The drop in Ethereum’s market capitalization can be linked to a larger sell-off of digital assets in recent weeks.
Inflation has driven people to be more careful with their expenditures. However, economists believe that a tighter budget will limit the usage of digital assets.
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Source: https://coinpedia.org/ethereum/ethereum-price-loses-1700-level-again-lowest-level-since-march-2021/