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01 March 2021

Ethereum (ETH/USD) Falls 26% From Historic High; What's Next?

Ethereum (ETH/USD) Falls 26% From Historic High; What's Next?


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That led to a considerably larger sell-off throughout the weekend and Monday session, taking the ETH/USD exchange rate lower by as much as 26.11 percent to $1,508.

Bitcoin, the flagship digital asset having an extremely high positive correlation with Ethereum, plunged up to 19.99 percent from its session peak above $58,000.

Likewise, Binance Coin, which notched closed the previous weekly session 171 percent high, dropped by 44 percent on Monday.

Meanwhile, Teddy Cleps, an independent market analyst, noted that the ETH/USD rates could still achieve a new all-time high, providing it maintains support above a so-called cloud price floor.

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