RATE Group | With grounding as strong as the one Ethereum (ETH) has, it would be unwise to think it c…
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With grounding as strong as the one Ethereum (ETH) has, it would be unwise to think it c…

20 Sep With grounding as strong as the one Ethereum (ETH) has, it would be unwise to think it c…

Posted at 00:44h in Ethereum News by

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Ethereum has gone a long way down in the last couple of weeks. After opening the month of August with $433.99/0.05629690 BTC, the currency dropped off to the monthly lows of $256.35/0.04233260 BTC before shifting into a sideways pattern. The price hovered just below $300 before falling off a cliff on September 5th. Ethereum reached the September lows of $172.58/0.02762150 BTC and has since struggled to break out of the obvious downtrend it’s in.

Ethereum is currently priced at $197.99 USD (-9.87% drop in the last 24 hours)/0.03160457 BTC (-6.83% drop in the last 24 hours). The daily trade volume of 305,813 BTC truly points out the currency’s status as the king of altcoins. Another thing speaking in favor of this moniker is the fact that Ethereum is ranked as the second most valuable cryptocurrency on the market, with a market cap of $20,201,441,616.

Trader InvestingScope provided this analysis of Ethereum’s technicals:

“TP2 = 176.16 (July 29, 2017 low) hit as 1D made a new…

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