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A recent analysis of the graphs indicates that the price of Ethereum (ETH) has continued to decline dramatically. In fact, the rate at which the digital asset is decreasing is much higher than other assets among the most important tokens. This continued downward spiral has surprised investors and is causing concern among many that the digital asset is heading.
It seems that no fund is OK for Ethereum (ETH) as it continues to fall. Currently, Ethereum (ETH) is traded around $ 103. This shows that the digital asset has fallen from around $ 1200 from the start of the year. Therefore, the token has lost more than 90% of its original value due to the highly volatile market.
Ethereum (ETH) at risk of drowning in double digits
The ether is at risk of going to double digits because the next support area for the cryptocurrency is in the $ 100 position. It is a psychological and technical support. That's why the support line is very important. The last time ETH saw these levels was May 2017. At the time, the digital asset had formed support for $ 91.
This clearly indicates that if the price of the digital asset breaks the psychological and technical support area of $ 100; it can fall to $ 91. This is the main reason why it is crucial that the digital asset maintains the $ 100 area support. The problem is that the downward momentum is fierce to the point that it could even break $ 100.
The double digits for ETH are becoming more a possibility than an imagination. Thus, the reason why investors remain skeptical about Ethereum (ETH) considering the significant amount of value it has lost.
Ethereum Price (ETH) today – ETH / USD
etthis document (ETH) has lost a significant part of its value compared to other main activities
As mentioned above, Ether has lost a huge part of its value. The figure is 90% at the time of printing. Among the first three virtual currencies, none has lost such an amount of value. The erosion of the value of Ethereum is nothing short of huge. And with the initial supply market for coins now in distress, it seems that the problems that Ethereum (ETH) is facing will not end soon. Authorities around the world have begun to strengthen the regulation of ICOs. This is why the fundamentals are not positive.
A fall below the $ 100 area seems likely
The current price movement of Ether means that a fall below $ 100 is imminent. Yes, things are not really good for Ether. Moreover, with the Blockchain competition increasing compared to other virtual currencies, the use of Ethereum's blockchain does not increase in any way at a faster rate than it was before.
It remains to be seen if we will see a turning point in the destiny of the digital resource. We can not say if it will reach the peaks reached when things will get better. This is another question. For now, however, it seems that there is not a fund deep enough for the price of the Ether token.
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