As of 17:30 GMT, 11 January the Ethereum market was estimated at $13.3 billion, According to CoinMarketCap, the total loss of the market’s largest Aldona after a series of big sales on 10 January amounted to $2.8 billion.
Under pressure from the sales price of Ethereum to the U.S. dollar decreased to $121,70 at three-week support level and today consolidated in a narrow range of $128-124.
Technical analysis course pair of ETH/USD indicates that the potential recovery medium-term bullish trend, as the moment the price of the cryptocurrency is held above its reversal level marked on the scale of the daily chart – $123,40.
However, the risks of a collapse of the Ethereum remain high, as after a sharp change of short-term market trends on the largest bitcoin exchanges registered growth of short positions on the background of significant reduction of long positions.
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