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Coin Telegraph

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Image Credit: Coin Telegraph

Why is Ethereum (ETH) price down today?

  • Ether's price fell over 5% to $2,380 on May 19, along with the broader cryptocurrency market.
  • Long liquidations were seen with ETH's price drop, with over $255 million worth of ETH positions liquidated in the last 24 hours.
  • The US credit rating downgrade by Moody’s triggered market uncertainty, leading to higher Treasury yields and a 'risk-off' sentiment.
  • ETH price lost key support levels, with focus now on the $2,330 to $2,274 range for potential retracement before a possible rally.

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