Why is Ethereum (ETH) price down today?
Ether price is down up today after the altcoin lost its weekly support at $3,200, leading to a sharp increase in selling pressure.
Ether (ETH) price has started the new week on a bearish front after dropping by 8% on Jan. 13. The altcoin showed signs of weakness early in the Asian trading session, forming a deviation after sweeping liquidity from the previous day’s high.
Ethereum 4-hour chart. Source: Cointelegraph/TradingView
Ethereum also lost its weekly support at $3,200 during the correction, pushing the price to its lowest value since Nov. 21, 2024.
