Ethereum has actually incurred substantial losses in the past 24 hours. Nevertheless, “& ldquo; whale & rdquo; investors are purchasing these tokens at a discount promoting hopes of a timely price healing.
Ethereum Loses Critical Support Barrier
Following a 90% bull rally given that the beginning of the year, the Tom Demark (TD) Sequential indicator has alerted financiers that Ethereum was bound for a high price correction.
This technical index provided sell signals on both the 1-day and 12-hour charts, forecasting that the largest altcoin by market capitalization was approaching overbought territory.
What came next was a 32.50% correction that saw ETH drop from a high of $1,355 to a low of $915 in the previous 24 hours.