Ethereum Price Plummets Below $1,800: Is $1,200 in Sight?

The cryptocurrency market has experienced a significant downturn, and Ethereum is leading the charge. Over the past 24 hours alone, the market value of crypto assets has dropped by over 5%, with Ethereum suffering a sharp 9.3% decline to $1,620 — far below its psychological and technical support level at $1,800. This selloff isn’t isolated; it began in Asian markets as traders actively unloaded holdings early on. The downturn quickly spread across the globe, triggering panic amongst investors, leading to substantial outflows from both traditional and decentralized platforms.