The price of ether fell to 19-month lows just over $80 today and is now down 94% from its January peak.
Ether's dollar-denominated exchange rate slipped to $81.30 at 02:15 UTC - the lowest level since May 2, 2017 - according to CoinDesk's Ethereum Price Index.
As of writing, ETH is trading at $83.00, representing a 17.8 percent drop on a 24-hour basis.
Ether prices have dropped close to 60 percent in the time since and are currently down a staggering 94 percent from the record high of $1,431 hit in January.
Notably, ETH/USD short positions on cryptocurrency exchange Bitfinex rose to a record high above 340,000 soon before press time - up 183 percent in the last three weeks.
As seen above, ETH created a small doji candle last week, implying bearish exhaustion.
Ether has found acceptance below $102.20, meaning the sell-off from $200 has resumed.
View ETH may test crucial support at $59.00 in the near-term.
The outlook would turn bullish only if ETH violates the recent bearish lower-high pattern with a daily close above $128.00.
Ether image via Shutterstock; charts by Trading View.
Ether Price Now Down 94% from January's Record High
gepubliceerd op Dec 7, 2018
by Coindesk | gepubliceerd op Coinage
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