Unfortunately for Ethereum investors, the price of the second biggest cryptocurrency is on a critical level following a correction on the crypto market
plunge stopped and entered a local consolidation channel. The deceleration of the drop is a positive sign for the market, showing a lack of selling pressure that would push the asset further.
Another reason behind the unexpected stop could be tied to the weekend trading session known for its lack of trading volume. The real intentions of traders and investors will be shown Monday when the U.S. and European markets are open. To enter a recovery rally, Ethereum would need an immediate bounce from the values we see now, which would make the recent 15% drop just a shakeout ahead of a sped up price increase.
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