Here’s Why Ethereum May Crash Further After Dropping 30% in 2 Days


Ethereum has dove lower over the past few days after reaching $490 at the start of the week. The leading cryptocurrency now trades at $335 as of this article’s writing, reaching as low as $315 just hours ago. ETH is down 15% in the past 24 hours, actually making it one of the worst-performing cryptocurrencies in the top 20. This isn’t too much of a surprise as it was one of the fastest rallying cryptocurrencies aside from smaller DeFi plays. Ethereum is ready to drop even lower despite the already brutal price action. Ethereum Has Room to Plunge After Falling As Low As $315 Analysts argue that Ethereum has room to extend to the downside, even after crashing over 30% in the span of around 48 hours. One trader shared the chart below, which shows that ETH yesterday lost a pivotal support level. At the time, he explained that if…

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