Ethereum’s price today is 2,393.56 USD, with a 24-hour trading volume of 27.71 B USD. ETH is down -3.10% in the last 24 hours. It is currently -26.81% from its 7-day all-time high of 3,270.46 USD, and 10.67% from its 7-day all-time low of 2,162.74 USD. ETH has a circulating supply of 119.30 M ETH.
Ether (ETH) plummeted and closed below the descending channel on Jan. 21, indicating an increase in selling pressure. The bulls tried to push the price back into the channel on Jan. 23 but failed.
This renewed the selling pressure on Jan. 24 and bears have pulled the price below the Jan. 22 intraday low at $2,300. The ETH/USDT pair could now decline to the psychological level at $2,000 where the buyers may provide support.
If the price rebounds off this level, the bulls will again try to push the price back into the channel. If they succeed, the pair could rise to the breakdown level at $2,652. Conversely, if the price breaks below $2,000, the pair could slide to the next major support at $1,700.