Ethereum’s plunge below the $1,600 mark, trading at a current $1,595 and down 1.35% on the day is causing dismay amongst the crypto community and frustration that the bullish momentum which drove its price to it’s all-time peak of $2,000 in mid-July has failed to sustain. Despite a recent successful battle to gain the approval of an Spot ETF, there is still a hint of uncertainty regarding the liquidation of $3 billion worth of digital assets , part which making up of assets from the defunct cryptocurrency platform FTX, consisting of mostly Ethereum and Solana tokens.
Despite the pessimism , sparks of opportunity linger individuals watching the markets for shorting possibilities.Armchair portfolio strategists will be analyzing pricing data for further movements as we go into compose an era of unpredictability in the crypto wild-west realms. Amidst the tumultuous attempt Ethereum change trajectory, buyers are preparing the currency by building compulsory support levels and restoring trust in the resiliency of of the almighty coin.
