CandleFocus Is Ethereum (ETH) Price in a Prolonged Slump?
2024-09-10
Author: Content Editor
Altcoin Ethereum has been struggling to maintain its position this week, dropping below $2,400. However, it experienced a slight increase of 1.52% over the past 24 hours. Its price ranged from $2,274 to $2,379, with a liquidation of $27.23 million worth of ETH. Daily trading volume increased by 19.10% to $15 billion. Despite reaching a four-month high in network growth with new wallets created, market sentiment remains fearful, and investors worry about a prolonged bearish phase. Ethereum's monthly chart shows a series of lows and a 12.60% price drop. The current bearish momentum could cause ETH to collapse further or rebound and retest higher levels. The RSI and moving averages indicate a bearish momentum for ETH.
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