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Ethereum price plummets despite strong network activity growth

Ethereum’s intense uptrend seen throughout 2020 reached a boiling point in early-February, with ETH’s break above $200 allowing it to incur parabolic momentum that led it to highs of $290.

Although the crypto has retraced from these highs, its mid-term market structure still remains firmly bullish, and many analysts are now noting that this will likely allow the crypto to soon rally to fresh year-to-date highs.

Ethereum (ETH) price is correcting after a major bullish run since the turn of the year

This potential bullishness may also be driven by the fundamental growth seen by ETH over the past couple of months, with its strong network activity making it a convincing value investment for long-term investors.

At the time of writing, Ethereum is trading down just over five percent at its current price of $264, which marks a significant decline from daily highs around $285 that were set at the peak of its recent rally. Read More