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ETH Price Is Expected To Drop Further Heading Into February

Published 01/31/2023, 10:05 PM
Updated 01/31/2023, 10:15 PM
ETH Price Is Expected To Drop Further Heading Into February
ETH/USD
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  • ETH is currently trading hands at $1,571.66 after a 3.14% drop in price.

  • The altcoin recently broke below a major bullish trendline.

  • The crucial price point for ETH currently stands at $1,600.

The second-largest cryptocurrency by market cap, Ethereum (ETH), is one of the tokens ending January in the red. Data from CoinMarketCap indicates that ETH is currently trading hands at $1,571.66 after a 3.14% drop in price over the last 24 hours. The altcoin reached a high of $1,620.61 and a low of $1,546.66 over the same time period.

ETH also weakened against its biggest competitor, Bitcoin (BTC) by about 0.22% over the last day. ETH’s drop in price has impacted the crypto’s weekly performance as the crypto is down by more than 3% over the last seven days.

The altcoin’s 24-hour trading volume, however, is in the green zone and now stands at $9,132,556,972 after a more than 10% increase since yesterday. In terms of market cap, ETH stands at $192,152,935,048.

The post ETH Price Is Expected To Drop Further Heading Into February appeared first on Coin Edition.

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