08 Mar It’s “Game Over” for Ethereum as Violent Selloff Leads It Below “Do or Die” Level
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Sorry bulls, but it might just be game over for Ethereum. The cryptocurrency’s intense uptrend seen in early-February has now been fully erased by the selloff seen over the past couple of days, which has shifted its market structure to be highly bearish.
This has led one top analyst to note that Ethereum has just dipped below a “do or die” support level that had previously been supporting its price action, with a sustained break below this level opening the gates for serious downside.
This movement is also coming as multiple fundamental indicators begin flashing bearish signs, suggesting a movement to sub-$200 is imminent.
Ethereum Plummets Towards $200 as Bears Roar
At the time of writing, Ethereum is trading down over 13% at its current price of $205, which marks a notable decline from daily highs of $252 that were set yesterday just prior to the market-wide selloff that was led by Bitcoin.
In the time since tapping these highs, ETH has been caught within a firm downtrend that…
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