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