Ethereum traders say bears ‘in control’ after ETH price drop to $2K
Ether price fell sharply below $2,100 as increasing sell pressure on Binance and persistent ETF outflows fueled bearish momentum.
Ether (ETH) dropped sharply after rejection at $2,400 last week, dropping as low as $2,100 on Monday, indicating that bears are back “in control,” according to new analysis.
Key takeaways:
Data from TradingView shows ETH price trading at $2,100, down 12% below its local high of $2,420 reached on May 6. On Sunday, ETH/USD hit $2,090 on Bitstamp, its lowest level since April 17.