[2018-06-25]Ethereum Price Drops to 2.5-Month Low Below $430

[Portal_Network]

The price of ethereum, the world's second largest cryptocurrency by market capitalization, dropped to a 74-day low below $430 - a level not seen since April 12.

Data from CoinDesk's price index shows the cryptocurrency dropped by more than $50 over a short-term period of 12 hours to reach $426.47 around 16:00 UTC on Sunday. Yet the bottom support level sparked an immediate reversal in price, which quickly recovered a loss of $42.

As of press time, ETH is back above $450 but still down 3.36 percent over a 24-hour period. Further, on a year-to-date basis, ETH is reporting a 60 percent decline from this year's high of $1.326 seen on Jan. 14.



However, a swift recovery is in play with the cryptocurrency printing a long consolidation candlestick on the longer-term timeframes, suggesting a reversal from the bottom could be confirmed on the closing day's trade. Long-term indicators state ETH has reached an oversold territory and is currently consolidating in price to cool off the RSI and Bearish MACD.



Other major cryptocurrencies are also flashing red but showing small signs of a recovery. For example, bitcoin is trending slightly up at $6,146 based on CoinDesk's Bitcoin Price Index.

EOS, the world's fifth largest cryptocurrency by market capitalization, tells a similar story which is down 3.6 percent but has recovered from a low of $6.89 back to $8 as of press time, data from CoinMarketCap shows.

Meanwhile, the total market capitalization for all cryptocurrencies is just over $250 billion, the lowest since April 7 of this year.

See more: https://www.coindesk.com/ethereum-price-drops-to-two-month-low-below-430/

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[Diabolov]

As mentioned earlier, experts predict the fall of all crypto-currencies at the end of this year

[Kemarit]

So much for that EOS will be the ETH killer. The dramatic fall of ETH has nothing to do with EOS which everyone thought it will be. It has something to do with investors trying to get out right now because they are really afraid as to what happening on the whole crypto scene. Although bitcoin has somewhat recovered above $6000, it might be another bull trap that anyone will be falling because as soon as the price goes $6500-$6700, there will be another offloading same thing will happen to ETH as well. So I advise everyone to really make and adjust if something went from bad to worst.

[entrepmind23]

As mentioned earlier, experts predict the fall of all crypto-currencies at the end of this year

They may be right or they may be wrong. The market will do what it will do. Many are predicting the funeral of bitcoin but others say otherwise. We can just do what we have to do which is to minimize our losses as much as possible when the trade is not in our favor. If ever what the "experts" said about the fall of cryptocurrencies then it will eventually turn around at the end of the cycle of the bear market. We just have to be patient and wait until such time when we become profitable in our trades again. When the time comes that there is an impending run, the volume would appear then.

[TraderTimm]

ETH is undergoing a slow-motion implosion, which will accelerate once their "Sharding" is exposed as too little, too late.

https://hackernoon.com/the-ethereum-blockchain-size-has-exceeded-1tb-and-yes-its-an-issue-2b650b5f4f62

EOS is structurally unfit -- and that drama is playing out now. Its easy for these shitcoins to make grandiose claims, its quite another to deliver on their pie-in-the-sky promises.

[Proton2233]

As mentioned earlier, experts predict the fall of all crypto-currencies at the end of this year

What are the experts? I don't know any expert I can trust. Their forecasts never come true. Personally, I think that if the situation on the market does not change, there will be a re-grouping of capital. Less successful coins will disappear and capital will flow into the most popular coins. There were too many coins and not enough capital.

[1Referee]

ETH is undergoing a slow-motion implosion, which will accelerate once their "Sharding" is exposed as too little, too late.

Not only that, but we'll start to see a domino effect where the main projects running on top of Ethereum will move away from that platform to operate their own blockchain.

Technically no one even need Ethereum. All projects are far better off running their own blockchain that they can update at any time without having to wait for Vitalik to act or not.

Tron is on the right track. https://toshitimes.com/tron-leaving-ethereum-transitioning-to-own-blockchain/

This is a blow in the face of Ethereum.