Ethereum sell-off resumes with ETH price risking another 25% decline in June By Cointelegraph


Ethereum sell-off resumes with ETH price risking another 25% decline in June

Ethereum’s native token Ether (ETH) slumped on June 16, suggesting that its relief rally coinciding with the Federal Reserve announcing it will hike the benchmark rate by 0.75%, is at risk.

Ether’s price slipped by 9.2% to around $1,120 per token a day after it rebounded by 23% after dropping to almost $1,000, its worst level since January 2021.

and Nasdaq daily correlation coefficient. Source: TradingView
Ethereum realized price (USD). Source: Glassnode
ETH/USD four-hour price chart featuring “bear pennant.” Source: TradingView