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Ethereum Price Drops Following Rejection, However On-Chain Fundamentals Remain Strong

Emily Mason

Summary: Ethereum has begun a downwards price trend after facing a rejection at the mid $750 region last night, data from CoinMarketCap shows. Bitcoin's rejection at $29,000 fueled Ether's move downwards, however there are still some indicators that the cryptocurrency will soon rally. Crypto analytics firm Santiment noted in a recent tweet that the number of Ethereum wallets holding ...

Ethereum has begun a downwards price trend after facing a rejection at the mid $750 region last night, data from CoinMarketCap shows.

Bitcoin's rejection at $29,000 fueled Ether's move downwards, however there are still some indicators that the cryptocurrency will soon rally. Crypto analytics firm Santiment noted in a recent tweet that the number of Ethereum wallets holding over 10,000 Ethereum has been on the rise over the past two months, pointing to an ongoing accumulation trend.

While the accumulation trend has not yet affected price, traders may see Ethereum's price moving up in coming weeks.

By Emily Mason

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Link: Ethereum Price Drops Following Rejection, However On-Chain Fundamentals Remain Strong   [Copy]
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