Ethereum Dips Below $100 for the first time this year, is ETH Doomed?

[PRIBO247]

Once the world’s second largest cryptocurrency, now sitting
on the third spot, right behind a perceived threat and rival
Ripple XRP . For the first time this year, Ethereum has lost its
momentum and moved below the $100 mark and is now
dangling at a trading price of $97 as of this writing.

Currently, the cryptocurrency market has all the top six tokens
blinking in red since the last 12 hrs. In losses, the Ethereum
has shredded as much as 8.63% and is now battling to stay on
the $90 edge, a move that may be impossible to maintain if the
token continues to depreciate.
On the 5th of December, the Ethereum showed bearish signs
when the token closed at a price of $102.48 after managing to
gather an opening price of $110.34. The Ethereum traded at a
daily all-time high of $110.60, not very far from its opening
price. The big blow began when the token hit a daily all-time
low of $102.48, as usual, one would expect an upswing but it
never came. Instead, the token closed at the same price and
has since fallen twice to the $90 level.

Bitcoin has also declined by 5.52% since today, it looks like
the big bull is succumbing to bearish trends and will have to
build a higher trading volume in order to move back to a $4000
mark. At the moment of this writing, Bitcoin is trading at a
price of $3667.75 while market cap sits at $63.85 billion.
Meanwhile, Tether and Bitcoin Satoshi vision have been
blinking in green lights with decent gains. Although tether has
increased by just 0.47%, Bitcoin Satoshi Vision has moved
even higher with gains reaching 16.57% and a trading price of
$105.47, the growth is quite impressive, seeing that the token
was at a $90 level for the past one week. The breakout was
highly unexpected especially because Bitcoin Satoshi vision
had traded as low as $86.31 yesterday.

Source : https://zycrypto.com