Ethereum Price Declining: ETH/USD Major Correction in a Couple of Minutes
Almost a weekly long of increase for Ethereum against the US Dollar, resulted with climbing close to the previous all time high while touching the $390 mark this time. The surge was disrupted and on September 2, it concluded with a major descending in a couple of minutes low as $360. – According to Coinmarketcap.
The 24-hour trading volume is taking recovery steps, while the Bithumb exchange ETH/KRW is leading with $131 million volume, followed by OKCoin.cs very close to leader of the pack with $126 million.
This downward flow and minor crash could be happening because of the quick-term deep pocket profit making traders and investors tanking the gain with major selling pressure in a very short time.
As it was awaited a declining phase to emerge after the major increase, it is not recommended right now to book profit until the price has found stabler support and ground and we can see it hover after a dip at some point.