Ethereum Price Dips Below Key Support as Sellers Return
Ethereum's price fell by 2.7% to $2,446 on September 15, as sellers returned to the market.
The cryptocurrency briefly dipped below its key support level of $2,434, but buyers quickly intervened to prevent a deeper drop.
This move left Ethereum vulnerable to further decline if the support level is breached. The price had been trading in a volatile range, with a 1.07% fall to $2,492 earlier in the day.
The selling pressure was not limited to Ethereum, as Bitcoin also declined ahead of Tuesday's US Senate vote on the CLARITY Act. The vote could have significant implications for the cryptocurrency market.
Ethereum still trades above its long-term moving averages, indicating that it is not yet in a bearish trend. However, if the price closes below $2,434, the next key level to watch would be around $2,385.