Analysts say Ethereum price must hold this key level to avoid a capitulation-like move By Cointelegraph


Analysts say Ethereum price must hold this key level to avoid a capitulation-like move

The crypto market experienced another day of pain on May 12 as the fallout from the ‘s LUNA and UST failure continues to ripple across the ecosystem.

While the coverage for UST and its impact on (BTC) have been extensively covered over the past few days, the pullback has also had a significant impact on the price of Ether (ETH) as traders hastily exited the market.

ETH/USDT 1-day chart. Source: TradingView
1-month chart. Source: TradingView
ETH/USDT 1-day chart. Source: TradingView
ETH/USDT 1-week chart. Source: Twitter (NYSE:)