Signs of fear emerge as Ethereum price drops below $3,000 again
Cointelegraph
Published Sep 28, 2021 01:58PM ET
Updated Sep 28, 2021 03:40PM ET
Technical analysis is a controversial topic, but higher lows are commonly interpreted as a sign of strength. On Sept. 28, Ether (ETH) might be 30% below its May 12 high of $4,380, but the current $3,050 price is 78% higher than the six-month low of $1,700. To understand whether this is a “glass half full” situation, one must analyze how retail and pro traders are positioned according to derivatives markets.
On Sept. 24, Chinese authorities announced new measures to curb crypto adoption, causing the second-largest Ethereum mining pool (Sparkpool) to suspend operations on Sept. 27. According to Sparkpool, the measures are intended to ensure the safety of users’ assets in response to “regulatory policy requirements.”
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Written By: Cointelegraph
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