Yesterday, the price of Ethereum on the cryptocurrency market fluctuated strongly for 15 minutes, which caused a real stir among the crypto community.
Experts of the Ethereum market are calm about the asset.
On major coin exchanges such as Binance Futures, Ethereum (ETH) peaked at $ 418, but it fell 25% within 5 minutes. In the end, it went up to $ 385 in 10 minutes.
The reasons for the fluctuations in ETH prices have been reviewed by market experts, who say that the range from $ 410 to $ 420 has always been a historical area of resistance, since 2017. In addition, the sudden drop of Ether by 25% led to a cascade of futures liquidation throughout the crypto space.
Global markets analyst Alex Kruger commented on the price fluctuations in Ethereum and said that although ETH has undergone a“ peak outlier “ of 25%, the outlier does not necessarily have to be a “peak“, meaning that the market value of Ethereum may still increase.
Despite the sudden correction in the digital asset market, many crypto investors are still positive about the prospects for the blockchain ecosystem. And with the release of the ETH 2.0 test Suite scheduled for August 4, you can expect a lot from Ethereum.