From June 18 to June 21, Ethereum faced significant sell pressure which reflected in its price dynamics.
Aggressive Selling Dominates Ethereum Markets
From June 18 to June 21, Ethereum witnessed major selling activity. On June 18, Ethereum traded near $2,500, and the sell volume hit $75.2 million. Throughout the day, the price fluctuated between $2,480 and $2,520, with sell volume exceeding $50 million repeatedly.
However, on June 21, the taker sell volume skyrocketed to $321.3 million in just one minute, exacerbating the price pressure, which dropped from $2,550 to $2,380. That day marked continuous sell-offs and liquidations.
Volatility and Liquidations Shape Ethereum’s Price Path
The volatility of the cryptocurrency increased on June 20, when the price briefly rose to $2,560 before collapsing to $2,480 as sell volume accelerated.
Sell volumes above $150 million indicated strong market exits. June 21 saw extreme sale pressures that ended the day under substantial strain, without signs of recovery.
Ethereum Price Performance and Continuing Market Uncertainty
Ethereum's candlestick patterns on June 18 demonstrated heightened volatility, closing at $2,480 due to significant liquidations.
On June 22, another drop was observed, resulting in Ethereum losing nearly $170, declining from $2,550 to approximately $2,380. This set of events reflects a troubling market atmosphere and the uncertainty stemming from both the economy and political conditions.
Recent developments in the cryptocurrency markets indicate aggressive selling and a cautious approach among traders. Ethereum's price drop and continuous liquidations emphasize the need for careful market observation amidst global economic instability.
