RATE Group | Ethereum Price Falls to $219 After Brief Rally: What’s in Store for ETH?
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Ethereum Price Falls to $219 After Brief Rally: What’s in Store for ETH?

07 Sep Ethereum Price Falls to $219 After Brief Rally: What’s in Store for ETH?

Posted at 12:37h in Ethereum News by

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Although yesterday the major cryptocurrencies staged a rally in late trading, the market quickly rolled over and today, most of the top coins are back near yesterday’s lows. The strong selling pressure is apparent across the board, and despite the bounce, the majors remained well below the pre-selloff levels, maintaining the short-term sell signals in our trend model.

Ethereum continues to lead the market lower, getting very close to yesterday’s lows already, and threatening with a test of the $205 levels in the coming days, which could lead to a new 15-month low in the crucial coin. Correlations are back at panicky levels in the segment, even as some of the majors are holding up somewhat better in the face of the strong bearish pressures, as the total value of the market fell back to $200 billion.

With the long-term picture still being negative for all of the top digital currencies, with the exception of the neutral BTC, the odds of more new lows in the coming…

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