Ethereum Drops Below $1,600, Posts Weekly Loss Of Over 20%.

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The majority of popular digital assets declined during the course of the week, and by the weekend, market leaders; Ethereum and Bitcoin had registered double-digit percentage losses.

Due to the rising dollar and increased risk-off attitude, the price of ether dropped from its recent top of $2,024 to the level of $1,585, representing weekly losses of more than 20%.

In the upcoming days, current price action anticipates bulls willing to take a chance can try to cut their losses in the 1370-$1420 range with an invalidation marker at $1270.

The leading altcoin has a market value of $193 billion at the time of writing. It has a circulating supply of 122,048,117 ETH coins and the max. supply is not available.

Ethereum core developers are working to get the alternative coin ready to switch from proof-of-work to proof-of-stake. The community was made aware of the problems found in the eleventh mainnet shadow fork; a crucial test for the altcoin’s seamless Merge implementation.

Nairametrics.

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