🔴 The price of ETH today slides from ATH momentum 📈
As for the second asset of cryptocurrencies - Ethereum, it is also busy following in Bitcoin's footsteps today, having lost 3.85% in the last 24 hours.
Currently, the price of Ethereum today is trading at $4,597, down from its all-time high of $4,955. Despite its relative outperformance against Bitcoin, the ETH/USD pair may face further weakness in the short term.
Technical indicators suggest that Ethereum may return to the level of $4,151 before stabilizing. Its rejection to approach $5,000 shows that Ethereum's rally is heavily influenced by Bitcoin's performance today, and there is no guarantee that it will not be affected by Bitcoin in the future.
However, ETH has shown its resilience, and there are still possibilities that it may lead the recovery once broader market conditions improve.
