Top Reason Why Ethereum (ETH) Price Is Down Today!

The post Top Reason Why Ethereum (ETH) Price Is Down Today! appeared first on Coinpedia Fintech News
The cryptocurrency market has recorded a significant correction of 3.47% within the past 24 hours. Further, top crypto tokens have displayed a similar price trend breaking down their important levels.
Moreover, the altcoin leader, Ethereum price has recorded the highest correction of about 8% among the top 10 cryptocurrencies by market capitalization. With questions like “Will ETH price retest its low of $2.8K?” and “Why is Ethereum Going Down?”, the crypto market has entered a FUD-like situation.

The Ethereum price downturn can be attributed to a combination of factors including the overall market correction and potential profit-taking by investors, but it's worth noting the upcoming Shanghai upgrade may have also contributed to the volatility. If the upgrade is perceived as bearish due to the unlocking of staked ETH, it could lead to increased selling pressure, pushing the price further down.