Ethereum Could Plunge to $315 if Bulls Fail to Defend One Key Level

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Although the altcoin market has not been tracking Bitcoin’s upside as of late, it is still fully exposed to its downside The cryptocurrency faced another rejection at $13,800 overnight that caused it to reel into the lower-$13,000 region This created headwinds that put a firm end to the breakout rally that Ethereum started forming yesterday ETH has now erased all of its recent gains and is now at risk of seeing significantly further downside One analyst is targeting a move that sends it down towards $315 in the near-term Ethereum has been struck hard by Bitcoin’s recent downturn, as its attempt at forming a breakout rally was ended overnight after it saw a sharp selloff. This selloff also came about after some massive sell orders placed on exchanges like Coinbase, with a total of over 8,000 tokens being moved by whales onto various trading platforms. Where it trends in the…

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