Ethereum Price Drops Below $800 spil Bears Take Control

The cryptocurrency markets are always evolving ter many different directions. Right now, the overall sentiment is pretty depressing, spil the markets have gone down ter value for finta some time now. With some markets losing 10% te value or more, things are not looking all that superb. Especially the Ethereum price is fighting spil of right now, for some reason.

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Anyone who has paid attention to cryptocurrency markets this year will have noticed things are not going exactly spil planned. This is especially true for people who have high hopes for theEthereum price, spil things have ground to a halt some time ago. After surpassing $1,000 last year, the Ethereum price has not bot close to hitting that target again for overheen a month now. It doesn’t show up wij will see that high Ethereum price anytime soon either.

Overheen the past month, it has bot pretty overduidelijk the Ethereum price is fighting for traction. Albeit there wasgoed a thrust to $1,000 a few weeks ago, this trend did not materialize te utter Instead, things took a turn for the worse merienda again, spil the Ethereum price has bot on a sustained decline everzwijn since. After ripping off below $950 again, the Ethereum price quickly dipped to $900, $850, and is now fighting to reclaim the $800 level.

This is partially due to the latest Ethereum price decline of 7.62%. Albeit Ethereum has not suffered from much of a loss compared to the Bitcoin value itself, Bitcoin is certainly dragging all altcoins with it at this rate. Unless Ethereum can build up momentum overheen Bitcoin, the USD value of this altcoin will not go up anytime soon. Moreover, with the ETH/BTC ratio declining spil well, there is no Ethereum price improvement ter glance spil of right now.

With $1.9bn te 24-hour trading volume, things are not looking all that bad for Ethereum spil of right now. The request to trade this altcoin is certainly there, but it seems the sellers vastly outweigh the buyers spil of right now. This situation can turn around at any given ogenblik, but for the time being, the bearish momentum will remain ter place.

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Spil of right now, the fattest exchange for Ethereum trading is OKEx. Their BTC and USDT pairs combine for overheen 16% of all trades, which is well ahead of Bitfinex, Huobi, and Binance. There is just one fiat currency pair te the top three, and three fiat currency pairs te the entire top ten. One of thesis top Ten pairs is the Korean Won, which doesn’t matter to the surplus of the world te the slightest.

For the time being, it seems overduidelijk the Ethereum price will proceed to decline for a while to come. Hitting $750 or potentially lower is not out of the question spil of right now, yet a loterijlot of holders hope their fortunes will switch sooner rather than straks. Right now, it is unclear if and when that will toebijten exactly, spil the current trend does not instill a lotsbestemming of confidence. Then again, that is par for the course, spil this trend materializes during the very first half of every year.

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