While the launch of Ethereum 2.0 (ETH 2.0) was described as a success, Ether (ETH) prices seem to have failed to soar, declining sharply during the Bitcoin (BTC) downtrend.
Bitcoin prices reportedly declined over 9% in a matter of hours and Ether at the same time did a price correction of over 11%.
At the time of writing the Ether price traded at $ 592, down 0.43% from its 24-hour high.
Note that Eth2 is the key to improving the Ethereum blockchain, aiming to improve the scalability and transaction capacity of the technology to enable thousands of transactions per second, possibly more in the long run.
Although the Ether price correction situation was expected after the Eth2 improvement, a decline of more than 11% attracted the attention of investors for the asset.
The correction is likely to be driven by high market interest, just as the technology was first announced in late November, causing the asset's price to drop from $ 620.
Investors are currently expecting a price correction in the near future or perhaps a consolidation phenomenon before Ether prices soar again.
The price of $ 561 will remain the support level for ETH if the price correction continues and the asset has the potential to jump if the price continues to stay above the $ 620 level.
