Investing.com - Prices of both Ethereum and Bitcoin extended their recent decline on Monday, remaining under pressure amid concern both cryptocurrencies face a period of correction.
Ethereum prices dropped by around 7.5%, or $18.20, on the U.S.-based GDAX exchange operated by Coinbase to $224.19 by 9:30AM ET (1330GMT).
Ethereum notched its third weekly loss in a row last week. Prices are down almost 45% since peaking at an all-time high close to the $400-level in mid-June.
It remains up over 2,000% so far for the year.
Meanwhile, Bitcoin continued to struggle as investors remained wary of initiating large position amid several warnings from analysts that the digital currency has peaked since hitting $3,000 last month.
The cryptocurrency was at $2,480.10 in early trade, down about 2.7%, or $67.90.
Despite recent losses, the digital currency is up more than 120% for the year.
Other prominent cryptocurrencies such as Ripple and Litecoin also felt the pressure, with both down around 5%.