Ethereum Dropping Under This Level Could Trigger a 25% Altcoin Correction


Ethereum has slipped lower from its local highs despite Bitcoin pushing above $10,800. The leading altcoin currently trades at $360, around 8% below the local highs at $390. The coin is down 4% in the past 24 hours while BTC posts a tepid gain of 0.5%. Ethereum is outperforming a swath of other top altcoins, with sellers finally catching up to the coin. Analysts are fearful that a further correction in the ETH price could trigger another bout of carnage in the altcoin market. Earlier this month, most hot altcoins, even the ones with a strong product, were subject to 10-30% corrections in a day. Some fell even more than the aforementioned sums. Ethereum Correction Could Cause Altcoins to Plunge Once Again Somehow, it hasn’t been Ethereum leading the ongoing rally, it’s been Bitcoin. What’s weirder, ETH has been falling as BTC pushes higher — a market dynamic that hasn’t…

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