In the worst hit since 14 Months, the entire cryptocurrency industry got wiped out of $50+ Billion in a single week, bringing the total market cap to 120 Billion.
ETH is down 38.6% in the last 7 days according to CoinGecko, and currently trading at $107.99
Taking a look at the historic charts for ETH, it seems there is no historic support level between $120 and $53 for ETH, which might bring ETH back to its levels between $40 and $60.
In January 2017, ETH was trading around $10, which is a fact most ETH holders are not aware of. ETH rallied from $40-$60 range to $120 in less than 2 days in April 2017 with no resistance in between.
As cryptocurrency markets are crashing, ETH might experience its worst hit and Top 50 ICO still hold a considerable amount of ETH and will have to sell their holdings in order to run their daily operations.
What do you think about ETH price? Are you a HOLDer :D? Comment below.