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 a result of investors reassessing the market and taking profits after the Merge. Additionally, concerns over the upcoming Shanghai upgrade and potential regulatory pressures may also be contributing to the sell-off. It's crucial for investors to monitor the price action around the $2.8K support level, as a break below this could trigger further selling pressure.