Oct. 16 at 8:35 PM
Ether trades below key resistance level of
$4,000 following China-U.S. trade war escalation, record crypto liquidations
Ether largely traded below its key resistance level of
$4,000 on Thursday as investors digested a spate of U.S.-China trade war developments and attempted to recover from a record liquidation event that battered the digital assets market.
The Ethereum-linked token has dipped 3% to below
$3,900 as of writing time, slipping from its high of around
$4,080 earlier in the day.
Ether has largely traded above
$4,000 since early August, but it dropped below
$3,800 for two consecutive days last weekend following a record
$19 billion liquidation event involving leveraged crypto positions.
The cryptocurrency is up nearly 16% in the year to date, despite its recent pullback.
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