Ethereum price outlook weakens, but ETH derivatives suggest $1.6K is unlikely By Cointelegraph
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Ether’s (ETH) price has shown weakness after failing to break above the $1,950 resistance on April 26. The subsequent correction drove ETH to $1,810 on May 1, nearing its lowest level in four weeks. Curiously, the movement happened while First Republic Bank (NYSE:) (FRB) was seized by the California Department of Financial Protection and Innovation.
The Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement with JPMorgan (NYSE:) to protect FRB depositors, estimating a $13 billion loss.
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© Reuters
Ether’s (ETH) price has shown weakness after failing to break above the $1,950 resistance on April 26. The subsequent correction drove ETH to $1,810 on May 1, nearing its lowest level in four weeks. Curiously, the movement happened while First Republic Bank (NYSE:) (FRB) was seized by the California Department of Financial Protection and Innovation.
The Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement with JPMorgan (NYSE:) to protect FRB depositors, estimating a $13 billion loss.
Continue Reading on Coin Telegraph
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