RATE Group | Will Ethereum Ever Recover? $100M Selling Pressure Still Haunts Markets
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Will Ethereum Ever Recover? $100M Selling Pressure Still Haunts Markets

25 Dec Will Ethereum Ever Recover? $100M Selling Pressure Still Haunts Markets

Posted at 01:50h in Ethereum News by

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Ethereum’s price action has been firmly tracking that of Bitcoin’s in recent times, although it has not been able to put as much distance between its recent lows as BTC has. ETH’s bearishness against BTC has come about as investors grow increasingly concerned about the hundreds of thousands of tokens currently held by a ring of scammers.

This has called into question whether or not Ethereum will ever be able to post a long-term recovery with these sellers continuing to place insurmountable selling pressure on the cryptocurrency.

Ethereum Stuck Beneath $130 as Bears and Bulls Remain at an Impasse  

At the time of writing, Ethereum is trading down over 2% at its current price of $129, which marks a notable decline from its daily highs of $132 that were set earlier this morning when bulls attempted to spark some upwards momentum.

This past weekend, ETH’s bulls were able to push the cryptocurrency up to highs of $135 concurrently with Bitcoin’s surge to $7,600, although this…

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