The queen of cryptocurrency Ethereum is following the Bitcoin price trend and rather more dedicatedly. At the time of writing Ethereum price is at $192.17 mark while the cryptocurrency has shredded 23 percent of its value since the 7th of March.
Ethereum price stood at the $252.21 high on the 7th of March while the price has shredded down to the $192.28 mark since then.
ETH price shows a similar price trend line as Bitcoin, where ETH also went into a flash crash and then down the line to the current lows.
Ethereum price movement: What to expect?
Trading view analyst Alex Clay feels that the cryptocurrency is priming for further losses at the moment and ETH is losing current support levels. Clay believes that the cryptocurrency can rise back to the bullish zones if the current support levels persist.
On the other hand, Clay explains that the current price movement doesn’t look very strong and dip to $188, and further below to $183 is also possible. In the worst-case scenario, ETH price can fall down to the $179.19 level.
Cautious trading is advised in both cases to ensure safe trading.
Featured Image by Stevanovic Igor
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.