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The price of Ethereum (ETH) has dropped below 1900 Dollar as the market recovery halts.
The price of Ethereum is currently at $1,837, down slightly from its 24-hour high of $1,847, according to CoinGecko. Despite a 1.7% increase on the weekly chart and monthly gains of 2.8%, Ethereum has struggled to surpass the critical $1,900 level.
As the broader cryptocurrency market entered a temporary downturn following a prominent event in the state of Arizona.
On Saturday, Arizona Governor Katie Hobbs vetoed a key legislation that would have allowed the state to hold Bitcoin in its strategic reserves, a bill that had already been approved by the legislature.