The post Ethereum price recovery from 8-month low could take longer than expected — Analysts appeared on BitcoinEthereumNews.com.

Several factors accelerated ETH’s drop to $2,100, and analysts warn that the recovery could take some time. Ether (ETH) extended its slump on Aug. 5, plunging to eight-month lows just above $2,100, as ETH transfers by Jump Trading, rising geopolitical tensions and concerns about the health of the global economy triggered a correction in all markets. Data from Cointelegraph Markets Pro and TradingView shows that ETH fell from a high of $3,016 on Aug. 3, dropping approximately 30% to a low of $2,116 on Aug. 5. The last time Ether traded around this level was on Jan. 3, during an uptrend fueled by the anticipation of the first spot Bitcoin exchange-traded funds (ETFs) being approved in the United States. Read more Source: https://cointelegraph.com/news/ethereum-price-recovery-from-8-month-low-could-take-longer-than-expected-analysts?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound

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Filed under: News - @ August 6, 2024 11:12 am