Ethereum forming a double top? ETH price loses 12.5% amid Evergrande contagion fears By Cointelegraph

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Ethereum forming a double top? ETH price loses 12.5% amid Evergrande contagion fears

Prices of ‘s native asset, Ether (ETH), slumped on Sept. 20 amid a broad sell-off in the cryptocurrency market, led by worries about a potential housing bubble crisis brewing in China.

The exchange rate dropped as much as 12.52% to $2,911 on the Coinbase (NASDAQ:) exchange, hitting its lowest levels since the beginning of August. Elsewhere in the crypto market, (BTC), Binance Coin (BNB), (ADA), Solana (SOL) and other top tokens plunged in tandem.

The performance of top 10 crypto assets in the past 24 hours. Source: Messari

ETH/USD weekly price chart. Source: TradingView
ETH/USD daily price chart featuring 200-day EMA support. Source: TradingView