After losing nearly forty-five percent of its market value, Ethereum price has recovered above $200.00. However, are further losses towards the $135.00 and $125.00 levels possible?
14 September, OctaFX – Cryptocurrencies moved towards the lowest levels of the year this week after news regarding tightening digital currency regulations from the United States weakened market sentiment.
The SEC charged two companies over misleading investors, while US lawmakers called for tighter regulation on cryptocurrencies and ICO’s. Ethereum was one of the worst performing cryptocurrencies, as it sunk towards the $150.00 level causing the ETHUSD pair to lose nearly forty-five percent of its market value at one point.
Ethereum Price Recovers Above $200.00
Ethereum later recovered above the $200.00 level, marking a stunning late week recovery for the second largest cryptocurrency.
- The ETHUSD pair is bearish while trading below the $200.00 level, further losses towards the $135.00 and $125.00 levels seem possible.
- If the ETHUSD pair trades above the $200.00 level, further gains towards the $228.00 and $240.00 resistance levels remains possible.
This article about Ethereum Price Recovers Above $200.00 was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.