{"id":389762,"date":"2019-07-14T21:30:27","date_gmt":"2019-07-14T21:30:27","guid":{"rendered":"https:\/\/wncen.com\/?p=389762"},"modified":"2019-07-14T17:47:09","modified_gmt":"2019-07-14T17:47:09","slug":"after-flash-crashing-to-191-analysts-expect-ethereum-to-continue-dropping","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/after-flash-crashing-to-191-analysts-expect-ethereum-to-continue-dropping\/","title":{"rendered":"After Flash-Crashing to $191, Analysts Expect Ethereum to Continue Dropping"},"content":{"rendered":"

The aggregated crypto markets are currently bathing in a sea of red after Bitcoin<\/a> failed to find support in the $11,000 region and plummeted nearly 10% towards $10,000. This drop led most major altcoins, including Ethereum (ETH), to reel lower today, with many cryptocurrencies trading down over 10%.<\/p>\n

Additionally, the recent plunge did lead Ethereum to flash-crash to $191 on Bitstamp, and analysts do believe that ETH will continue dropping lower in the near-future.<\/p>\n

Ethereum Plunges 12% as Selling Pressure Ramps Up <\/strong><\/h2>\n

At the time of writing, Ethereum<\/a> is trading down over 11% at its current price<\/a> of $239.9, which is down significantly from its daily highs of $270.<\/p>\n

This downwards pressure marks a significant extension of the selling pressure that ETH first incurred in late-June when it rapidly surged to $350 before incurring a sudden influx of selling pressure that sent it reeling down to roughly $280.<\/p>\n

In the time since, Ethereum has been facing a bout of choppy trading that has ultimately resulted in an extension of its downwards pressure that has led it to fresh monthly lows.<\/p>\n

Interestingly, earlier today ETH experienced a so-called flash-crash yesterday on the Bitstamp exchange that sent it plunging to $191, a price level not seen by the cryptocurrency since early-May.<\/p>\n

Big Cheds, a popular cryptocurrency analyst on Twitter, spoke about this crash in a recent tweet while referencing the below charts.<\/p>\n

\u201c$ETH #Ethereum – Flash crash on Bitstamp last night down to $191,\u201d he said.<\/p><\/blockquote>\n

\n

$ETH<\/a> #EThereum<\/a> – Flash crash on Bitstamp last night down to $191 pic.twitter.com\/hpLqweprFl<\/a><\/p>\n

— Cheds (Trading Quotes) (@BigCheds) July 14, 2019<\/a><\/p><\/blockquote>\n