Ether has reached a record $4,870 since Nov. 10th when it surpassed all previous records.ETHThe price of ) has seen lower lows in the last 50 days. The lower trendline support indicates that altcoin could bottom out at $3,600 if this downtrend continues. The derivatives data shows that the bearish-looking market structure is not troubling pro traders.

As investors flee the sector because of growing regulatory concerns, you can see how price peak times are dropping over the 12 hour timeframe. Russia held a press conference Dec. 17 to discuss the situation. Central Bank governorElvira Nabullina stated that it was possible to ban crypto currency in the country.