фото показано с : invezz.com

For the trailing 7-day period, Ether has seen a massive slip from its impressive all-time high (ATH) price of $4,362, falling in tandem with the global cryptocurrency industry. The cryptocurrency, native to the Ethereum blockchain has had a good run prior to that time, as investors accumulated the coin ahead of main network upgrades.

Ethereum has dropped almost at the same pace it rose when it charted a new growth path for itself beginning at the end of April when it surged past the $2,700 price mark. The run to the top proved unsustainable as market forces weighed in driving the price back down. The coin’s strong fundamentals as a backbone to the growing DeFi ecosystem remains one of the top factors keeping the price above the $2,400 support level.

Over the course of 5 days, ETH has dropped below 5 key support levels at $4000, $3,600, $3,200, $2,800, and $2,600 respectively.

With the price of Ethereum at $2,737.41 at the time of writing, it appears as though an anchor has finally made at $2,400. From here, we may start seeing recovery from this point. Reclaiming the $3,000 psychological level is the biggest hurdle in the short term as market bulls will strive to reclaim the ATH in the mid-longer term.

The post Ethereum price bows to bear pressure after retracing from ATH appeared first on Invezz.

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