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Ethereum's Price Falls As Bitcoin Sees Correction Following Record Rally
Summary: In less than one day, Ethereum fell from $1,255 to $905, erasing all gains made from last week, as reported by DeCrypt. The price drop comes as Bitcoin's rally has faced a harsh correction, with the leading cryptocurrency dropping 17.78% over the past day. Just as last week Bitcoin's rally buoyed Ethereum's price, this week ...
In less than one day, Ethereum fell from $1,255 to $905, erasing all gains made from last week, as reported by DeCrypt.
The price drop comes as Bitcoin's rally has faced a harsh correction, with the leading cryptocurrency dropping 17.78% over the past day. Just as last week Bitcoin's rally buoyed Ethereum's price, this week Bitcoin's fall has dragged the leading altcoin down.
In terms of US dollars, this is the second-largest 24 hour price drop for Ethereum ever.
Ethereum's relative strength index, which evaluates the balance of buyers and sellers in a markets, indicate that traders are on the verge of unloading their ETH. The metric has dropped from 88 (extremely overbought) to 56 ( more balanced levels) in just hours.
By Emily Mason
Tags: ETH,Ether,Ethereum
Link: Ethereum's Price Falls As Bitcoin Sees Correction Following Record Rally [Copy]
