Ethereum (ETH) has fallen by 8.5% in the past 24 hours amid a massive sell-off across the entire cryptocurrency market.<\/p>\n
A total of $1.2 billion has been wiped from Ethereums total market cap, which now resides at around $14.25 billion.<\/p>\n
The dramatic move to the downside was undoubtedly led by Bitcoin, which slumped below the $7,000 level of support before experiencing a small bounce at $6,700.<\/p>\n
Ethereum is now 65% down from its yearly high of $365, with the next meaningful level of support coming in at $124.<\/p>\n
Failing that, it remains likely that Ethereum could dwindle all the way down to $95 and even $80, with both levels acting as support following the capitulation low in December 2018.<\/p>\n
Potential upside targets remain at $133 and $146, although a bullish reversal would only come into play if Ethereum can surge to above $217, which was the confluence of Augusts death cross.<\/p>\n
Regardless of the recent descent to the downside, Ethereum has witnessed impressive volume over the past 24 hours, with more than $9.6 billion being traded across all major exchanges.<\/p>\n
Vitalik Buterins project underwent a hard fork last week, although it has so far presented a number of issues with uncertainty spreading to both users and miners.<\/p>\n
For example, developers reportedly forgot to update the difficulty bomb, which has been reflected by the lack of confidence across Ethereums trading pairs.<\/p>\n
For more news, guides, and cryptocurrency analysis, click here.<\/p>\n
The post Ethereum slumps to nine-month low of $128 appeared first on Coin Rivet.<\/p>\n
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Ethereum slumps to nine-month low of $128 - Yahoo Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum (ETH) has fallen by 8.5% in the past 24 hours amid a massive sell-off across the entire cryptocurrency market. A total of $1.2 billion has been wiped from Ethereums total market cap, which now resides at around $14.25 billion. The dramatic move to the downside was undoubtedly led by Bitcoin, which slumped below the $7,000 level of support before experiencing a small bounce at $6,700 Continue reading