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Ether Price Plunges Below $4K as Sell-Off Accelerates

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Thu, 11/18/2021 - 17:26
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Alex Dovbnya
The Ethereum price has dipped below the $4,000 level for the first time since Oct. 28
Ether Price Plunges Below $4K as Sell-Off Accelerates
Cover image via stock.adobe.com

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The price of Ether, the second-largest cryptocurrency, has dropped below the psychologically important $4,000 level for the first time since Oct. 28.

It is currently trading at $3,969 on the Bitstamp exchange.   

ETH
Image by tradingview.com

Ether is now down 17.44% from its all-time high of $4,878 that was reached just eight days ago.

In the meantime, Bitcoin (BTC) is currently trading below the $57,000 level, pushing the rest of the cryptocurrency market significantly lower. The crypto king is struggling to regain bullish momentum after hitting its lifetime peak of $69,044 on Nov. 10.   

Solana (SOL) and Shiba Inu (SHIB) are the biggest laggards among the top altcoins, dropping 12% and 15%, respectively, over the past 24 hours.

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Bitcoin and Ether are both down roughly 5%. 

According to Coinglass data, $271 million worth of crypto has been liquidated over the past four hours across major exchanges. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.