Ethereum loses gains as it dips below $ 2,000

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Ethereum gave up on Tuesday’s gains after failing to hold onto 2. 000 $ The native tokens of Solana, Polygon and Cardano are also exchanged in red The cryptocurrency market seemed to have calmed down on Tuesday after two weeks of heavy losses, but the last twenty have reversed course again. Ethereum started the week trading slightly above 2. 000 $ e, although it slipped below this value during Monday’s trading session, premier alt quickly recovered. Ether’s resilience is apparently once again being tested in the face of a slight market decline on Wednesday. Other altcoins such as Avalanche (AVAX) and Polygon (MATIC) also retreated during this period, some, markedly, with more significant margins than Ether. Ethereum price suffered yet another setback Ethereum (ETH) fell by almost 4, 50% in the last 24 hours, losing grip above 2. 000 $, a price level that the bulls have struggled to defend this week. its current price of 1. 975 $, ETH / USD is down by 60% compared to the November peak. The trading volume data also shows that the network is still reeling from the recent decline. The trading volume of Ether over the past 24 hours has contracted del 4, 45%, an indication of the sour taste in the Ethereum market. Cardano, Solana, Polygon and Avalanche also retired Cardano (ADA) is among the biggest losers of the day among the top ten crypto assets by market capitalization. The ADA came close to the 0, 60 $ threshold during yesterday’s trading session, but the resistance above this level proved too much for the momentum built up by the bears. Cardano’s native token fell to 0, 55 $ but returned to 0, 58 $ before rising to 0, 52 $ , where it is currently hanging in the balance. The volume of trading in the 11 hours decreased by 8, 95% to 891,43 billions of dollars, according to data from CoinMarketCap. The picture is the same for AVAX, MATIC and SOL, who lost 8 respectively, 37%, 6, 60% and 8, 25% in this period. The margins are not very far for the native tokens of Algorand and Theta. ALGO is trading in red 8, 48% while THETA fell to 1, 24 $ after seeing an 8 drop, 85% in the last 24 hours. Settlement volumes decrease Coinglass data show that settlement volumes in the 24 hours over the past three days have remained relatively average compared to last week’s stock. Since the beginning of the week, the total volume of liquidations in the 11 hours did not exceed 300 million dollars in any day. So far, 9, 11 and 12 May remain the days with the largest liquidation volume in the 24 hours of this month with combined digits (long and short) respectively of $ 1, 002 billion, 989, 65 million and 746,348 millions. Long orders contributed to most of the liquidation on all three occasions: 799, 727 million on May 9, 668, 498 million the 000 May and 427, 678 million 12 May.


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