Lack of support could trigger a drop in Ethereum price below $ 200

Lack of Ether support from large institutional investors may cause the digital coin to drop below $ 200. After the recent leap and restoration of the positions in the beginning of this summer, ETH is constantly undergoing correction, which indicates the skepticism of the holders.

Will Ethereum get a chance for a full recovery? Last week, there were all the prerequisites for increasing the cost of Ethereum to $ 250. In a few days, the coin lost almost 15 percent of the price tag, falling to $ 209. The cryptocurrency capitalization was reduced to $ 22 billion. Many experts noted that such fluctuations in indicators affected investor sentiment. A similar situation was observed with bitcoin in early August, when the main coin was constantly subjected to correction, but kept in approximately the same spectrum.

“If altcoin, which is considered one of the main competitors of bitcoin, drops below $ 200, we can talk about a full return of the market to bearish sentiment. We see that even the main coin could not resist the onslaught, for several days it sank below $ 10 thousand.” – Users of thematic publications on social networks write.

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Above $ 200, Ethereum can qualify for support on the trading floors. If the coin moves to devaluation, traders will also begin to abandon it in favor of more stable assets. This scenario is possible in case of stabilization or strengthening of the underlying asset of the cryptosphere, as it is the best alternative to Ether.

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