Ethereum’s $1.5K support weakens as ETH traders turn slightly bearish By Cointelegraph
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© Reuters The price of Ether (ETH) declined 10.2% between Jan. 8 and Jan. 10, and has since been range trading near the $1,500 level. More importantly, on a broader time frame, Ether is down 52.5% in twelve months, which partially explains why derivatives metrics were somewhat neutral after Ether’s failed attempt to break $1,700 on Feb. 8.
Currently, investors’ biggest concerns are the U.S. Securities and Exchange Commission’s (SEC) lawsuits and enforcement actions against crypto firms, which included Kraken’s tanking of its-as-a-service program and PayPal (NASDAQ:) reportedly pausing its stablecoin project due to regulatory concerns.
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© Reuters The price of Ether (ETH) declined 10.2% between Jan. 8 and Jan. 10, and has since been range trading near the $1,500 level. More importantly, on a broader time frame, Ether is down 52.5% in twelve months, which partially explains why derivatives metrics were somewhat neutral after Ether’s failed attempt to break $1,700 on Feb. 8.
Currently, investors’ biggest concerns are the U.S. Securities and Exchange Commission’s (SEC) lawsuits and enforcement actions against crypto firms, which included Kraken’s tanking of its-as-a-service program and PayPal (NASDAQ:) reportedly pausing its stablecoin project due to regulatory concerns.
Continue Reading on Coin Telegraph
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