Ethereum Markets In Turmoil As Prices Plunge

80420194 - concept of ethereum price falling

Ethereum prices have fallen considerably from their highs of over $400 just earlier this month. The prices hit just below $160 on the GDAX exchange as the bull run lost momentum. With trading volumes falling to just $487 000 000 from well over $3.1 Billion just earlier this month. This drastic drop in new capital coincides with rising discontent regarding the scalability of the cryptocoins and the reliability of the infrastructure itself.

As seen on the graphs below the bullish trend has remained strong over the latter half of this month with prices tumbling on all exchanges including Bithumb, Poloniex and Coinone. The token is still trading under the $200 mark on the Kraken exchange so shorting opportunities do exist for those wanting to take advantage.

ethereum markets last month


Currently Ethereum prices seem to have entered a stable period but analysts predict that accounting for the current trading volumes, we may see another dip to sub $200 levels offering a valuable opportunity for purchase of the coin. Currently the floor is set to the $165 range, where analysts consider considerable support. Breaking of this price point is set to see prices tumble all the way to the $95 range as seen last year as support between the price points is currently scarce. The market currently displays bearish movements even though it currently is hovering around the $200 price point, a dip is more than likely considering many have become disenchanted with the promises made by Ethereum, such as becoming the currency for ICO’s as the whole network collapsed under the load of the Status ICO.


Disclaimer: This article does not constitute trading advice, or the Author cannot be held liable for any losses incurred by individuals. Losses can exceed deposits so please trade responsibly.

Written By

Hi I'm Aleppo Allesadero a experienced bitcoin user and educator. Having worked for over a year in the bitcoin journalism ive seen bitcoin grow from strength to strength asserting its power against fiat currency. Hopefully you too can learn about this exciting new prospect which may help transform the way we see finance and economy on a daily basis.

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