Ether Price Plummets to 19-Month Low
The price of Ether (ETH) has plunged to $80, marking a 94% decline from its all-time high in January. This drop represents the lowest valuation since May 2017, signaling prolonged bearish momentum in the cryptocurrency market.
Key Market Movements
- Current ETH/USD Rate: $83.00 (17.8% daily decline).
- January Peak: $1,431 (now down 94%).
- Critical Support Breach: $200 level lost on November 14, followed by accelerated sell-offs.
The downturn aligns with Bitcoin’s fall below $6,000, eroding hopes of a broader crypto market recovery.
Market Sentiment and Trading Data
Record Short Positions
- Bitfinex ETH/USD Shorts: Surpassed 340,000, up 183% in 3 weeks.
- Long Positions: Hit lowest levels since September 12.
While extreme shorts often indicate oversold conditions, reversal signals remain weak. Traders should await stronger evidence of trend shifts before anticipating a bullish recovery.
Technical Analysis: Weekly Chart
Bearish Indicators:
- 5- and 10-week SMAs: Downward trajectory.
- Weekly RSI: Oversold for the first time since December 2016.
Support Levels:
- Immediate: $102.20 (invalidated doji candle low).
- Next Major: $59.00 (March 2017 low).
👉 Explore real-time ETH charts for updated technical insights.
FAQ Section
Q1: Why did ETH drop 94%?
A1: The decline stems from broader crypto market risks, Bitcoin’s collapse below $6,000, and loss of key ETH support levels.
Q2: Is now a good time to buy ETH?
A2: With RSI oversold and sentiment extreme, a corrective rally is possible. However, confirm trend reversal above $128 before long-term bets.
Q3: What’s the next ETH support level?
A3: Watch $59.00—a critical historical level from March 2017.
Conclusion
Ether’s market outlook stays bearish despite oversold conditions. Traders should monitor:
- RSI rebounds.
- Daily close above $128 for trend reversal confirmation.
👉 Stay updated with ETH price alerts and expert analyses.
Disclosure: The author holds no cryptocurrency assets at publication.
### SEO Keywords Identified:
1. Ether Price
2. ETH/USD
3. Cryptocurrency Market
4. Bearish Trend
5. Technical Analysis
6. Support Levels
7. RSI
8. Bitcoin Correlation
### Anchor Texts Added:
- "Explore real-time ETH charts"