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In the current scenario of the cryptocurrency market, many of the big currencies are experiencing a price collapse. Ethereum [ETH] it is one of the currencies that bears the bear and is down 3.42%, trading at a price of $ 201.56 with a market capitalization of $ 20.8 billion. The 24-hour trading volume was recorded at $ 1.59 billion.
ETHUSD | 1 Day Price Chart | Source: coinmarketcap
During the day, ETH underwent multiple bankruptcies in which the former occurred at $ 209 to $ 206 with a nearly $ 500 million difference in market capitalization. The second major disruption of the ETH price was observed when it plunged to trade at $ 200 where the market capitalization was $ 20.7 billion.
As in the weekly chart, Ether was trading at a bullish price of $ 220 with a market capitalization of $ 22.7 billion at the start of the week. Along the way, the currency struggled to keep its price at a certain level of support, but eventually fell below to hit $ 200 today.
ETHUSD 7d price chart | Source: coinmarketcap
In a technical analysis conducted at the beginning of today, most of the indicators were bearish on the cryptocurrency, while two others were positive on the price trend. This had been an important reference to the decline in the market price. The Bollinger Bands also predicted greater market volatility, which can be taken into consideration to further predict fluctuations in the Ether market.
As the latest developments in the ecosystem, Vitalik Buterin, the co-founder of Ethereum, recently released an interview in which he discussed the concepts of scalability and efficiency. Here, the genius of the blockchain also explained the sharding and transactions on the Ethereum blockchain.
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