Ether (ETH) Falls Below $300 for the First Time in 2018, Reaching Levels Last Seen in November 2017

On Monday (13 August 2018), Ether (ETH) fell below $300 for the first time in 2018, reaching levels last seen in November 2017.

According to data from CryptoCompare, as shown in the one day chart below, at 11:00 (UTC), ETH was trading at $319.51. Three hours later, it was slighly lower at 317.56. However, by 16:30 (UTC), it had gone below $300 to reach $298.05:

At press time, ETH is trading at $293.67, down 8.39% in the past 24-hour period.

Here is the one month chart for ETH, showing how the price has fallen from 48% from $435.09 to its present level:

And finally, here is the one year chart, showing that the last time ETH was below $300 was 10 November 10, when it was trading around $296.86:

Ran NeuNer, CNBC’s “Crypto Trader”, sent out the following tweet on 11 August 2018 to make the observation that the ETH price had reached the same level as (almost) exactly one year ago:

Eth trading at the same price it did a year ago! pic.twitter.com/urqlqAG0DF

— Ran NeuNer (@cryptomanran) August 11, 2018

Later, he sent out this tweet to note the level of Bitcoin dominance:

So much development and so many new projects in the last 12 months yet BTC has exactly the same dominance as it did a year ago exactly. pic.twitter.com/wM8yxqpD9E

— Ran NeuNer (@cryptomanran) August 11, 2018

It is notable that on 8 August 2018, NeuNer had sent out this tweet to say that he was a long-term believer in ETH and had started accumulating it:

With Devcon 2,5 months away and at a network value of $35bn, I am starting to buy ETH. I have no doubt the market will recover and I have seen the size, intellect and strength of the ETH community – @ $35bn I’m in! Its a solid stable bet. DYOR pic.twitter.com/f0SFfBBmYk

— Ran NeuNer (@cryptomanran) August 8, 2018

A few minutes ago, he confirmed that he had not been joking on 8 August 2018, and that he was serious about HODLing ETH:

Not at all! Im not day trading but slowly buying ETH as a long term hold. I believe that the market will recover and that some big announcements will happen at Devcon. Time will tell… https://t.co/GrsIUm8ZiM

— Ran NeuNer (@cryptomanran) August 13, 2018

Featured Image Credit: Photo via Pexels.com