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The price of Ethereum drops to $ 120 as bears control the market

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Things are not going according to plan for most cryptocurrencies right now. Especially when it comes to Ethereum. The price is not going very well. It seems unlikely that this situation will change soon, even if you never know what the future will be. For the time being, the downward trend will probably continue over the weekend.

The decline in the price of Ethereum continues

No one will be really surprised to learn that the current price dynamics of Ethereum is anything but positive. There has been an abrupt stop in the last days and the trend continues before the weekend. This in itself is quite interesting, although few people expect significant changes to occur. With the $ 120 level now under pressure, everything is possible, though.

In the last 24 hours, there has been a downward trend in prices for Ethereum. After another 2.1% decline in USD value and a 1.4% decline in the BTC value, the current value of Ether does not seem excessive. This token is not unlikely to fall below $ 120 in the next few days, although real drops should not occur in the process.

An interesting note on Twitter is the way in which Matt Leising underlines how ethereal projects are still clumsy. Although in the end he managed to make everything work, this is not a positive sign. Anyone less prone to technology will probably give up dealing with Ethereum sooner rather than later. This in itself is something that needs to be overcome, but it may take some time to do it effectively.

Although memes and Ethereum are usually not the best of combinations. It's always fun to see what comes out these days. Tom Shaughnessy has developed a very interesting "communication problem" of Ethereum. Although somehow it is telling the status of this project right now, it seems like it is a matter of time until this situation is resolved correctly.

For those who want a more technical-oriented analysis of the current price dynamics, the following table does not seem too promising. It is evident that at the moment there is a downward trend in the market and that may not necessarily be destined to yield shortly. Although CryptoACG states that a decline to $ 55 is possible, this may not happen at any time soon. Even so, any option should be kept in mind at all times.

Based on all these circumstances, it is evident that the weekend may not produce any real gain. Most traders will not be very happy with this trend, but there is not much you can do about it. Unless Bitcoin shows a miraculous recovery in the near future, all other currencies and assets will also remain in red. For Ethereum, this means that this current price range could become the new normal, at least for a few days.

disavowal: This is not a trading or investment advice. The article above is for entertainment and training purposes only. Please do your own research before buying or investing in any cryptocurrency.

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