- ETH/USD is down 8.2% on a daily basis, following Bitcoin on the way to the North.
- Another spam attack supposedly hit Ethereum network.
At the time of writing, ETH/USD is trading at $370, down 8.2% on a daily basis and 1.2% since the beginning of Wednesday. The second largest cryptocurrency with the market capitalization about $37B has been sliding rapidly amid global sell-off on the cryptocurrency market. The coin has broken below strong technical levels, which increased the immediate bearish pressure.
Just as $400 gave way, the sell orders started snowballing, dragging the coin towards the lowest level since the beginning of April. If the trend is not reversed in the nearest future, we may retest 2018 low at $352 rather sooner than later. Meanwhile, the upside is limited by a strong resistance zone $390-$400, though we need to get higher to mitigate immediate bearish pressure.
Apparently, Ethereum network is attacked by spammers once again. Users researched the transactions and found out that one Ethereum address transmitted and received transactions that consume nearly quarter of all GAS within the network. Previously such network load was caused by airdrops, but now it looks like a spam attack carried out by a dedicated bot system.
ETH/USD, the daily chart
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