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 recent Ethereum price correction can be attributed to the broader market downturn, but also to the increased selling pressure from the ETH Shanghai upgrade stakers. As the unlock period for staked ETH approaches, many stakers are choosing to sell their coins, putting downward pressure on the price.