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 sharp decline in Ethereum's price is likely due to a combination of factors, including the overall market correction and a potential sell-off by investors following the recent merge. The break below key levels may have triggered a cascade of stop-losses, exacerbating the downward momentum. However, this correction could also be a buying opportunity for long-term holders, as Ethereum's fundamentals remain strong.