After 16% drop, traders target $250 Ethereum price — Here’s 3 reasons why

The crypto market saw a significant correction today and Ether (ETH) price did not escape the carnage. In the last 24 hours, the top altcoin recorded a 12% drop as the price fell to $331. In the same period, Bitcoin (BTC) price slipped by 6.3% to find support near $10,300.

Ether’s decline comes after a head and shoulders pattern became clear on the daily timeframe and the price slid into a shart downtrend over the past four day. 

ETH/USD 1-week chart. Source: TradingView.com

Three reasons…


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