Ethereum (ETH) has retested its crucial $2,800 support level for the second time this week, as the broader crypto market erases all its intraweek gains. Some market observers have weighed in on whether investors should worry about King of Altcoin’s performance.
Ethereum Plunges Amid Broader Market Crash
On Thursday, global markets experienced a sharp decline, with stocks, cryptocurrencies, and even precious metals erasing over $3 trillion in market value in just a few hours.
Ethereum, the second-largest cryptocurrency by market capitalization, followed the market-wide correction, retracing 6.9% in the daily timeframe. The cryptocurrency has been hovering between $2,800 and $3,300 since the start of the year and attempted to reclaim the upper zone of this range this month.
Nonetheless, the recent geopolitical tensions and macroeconomic
Continue reading
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!