Why did the recent Bullish Rally ignore Ethereum?

What's in this article

Ethereum slumped more than we expected it to touch the $2100 figure so it was hard to recover from such a blow.

 Ethereum price today is $2,426.53 USD with a 24-hour trading volume of $19,171,503,274 USD. Ethereum is up 7.28% in the last 24 hours, with a market cap of $289,500,609,271 USD. It has a circulating supply of 119,306,290 ETH coins. 

Source: Tradingview

Ethereum: Analysis

Another reason is Bitcoin is too volatile so traders are more interested in it than altcoins for now. On an hourly chart, Ethereum still remains bearish headed again to the universal support level of $2000, as mentioned yesterday. Making lower lows, Ethereum can drop to $2100 again before its final drip to $2000. Ethereum has resistance at its local high of $2600, fib 1.414.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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