RATE Group | Ethereum Dives Towards $200 as Sentiment Surrounding ETH Grows Negative
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Ethereum Dives Towards $200 as Sentiment Surrounding ETH Grows Negative

11 Aug Ethereum Dives Towards $200 as Sentiment Surrounding ETH Grows Negative

Posted at 00:17h in Cryptocurrency News by

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Bitcoin’s recent ascent has proven to be a negative thing for the aggregated crypto markets, as it has led most altcoins – including major ones like Ethereum (ETH) – to plummet as BTC continues to garner greater dominance over the markets.

Now, analysts are noting that Ethereum could still see some bullish price action in the near-future, which comes as the sentiment surrounding the cryptocurrency is becoming incredibly bearish.

Ethereum Plummets Towards $200 as Selling Pressure Ramps Up 

At the time of writing, Ethereum is trading down nearly 3% at its current price of $204, which is down significantly from its daily highs of nearly $215.

Over a one-week period, ETH is trading down significantly from its highs of $240 and is currently trading just a hair above its seven-day lows of $200 that were set earlier today.

This bearish price action simply marks an extension of the sell-off that first began in early-July when the cryptocurrency was trading over $300, which was closely…

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