Ether has reached a record $4,870 since Nov. 10th when it surpassed all previous records.ETHOver the past 50 day, the ) price posted lower lows. The lower trendline support indicates that altcoin could bottom out at $3,600 if this downtrend continues. However, data from derivatives shows that the apparent bearish market structure is not a concern for pro traders.

You can notice how prices peak less in the 12-hour period. This is because investors are becoming more concerned about regulatory issues. Russia held a press conference Dec. 17 to discuss the situation. Central Bank governorElvira Nabiullina said that crypto ban in Russia is possible.