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Ether again derailed by BTC failure

24 May, 2022

The reclaiming of the $2k handle for Ethereum (ETHUSD) since the weekend seemed to offer some further upside as the second largest cryptocurrency rose further above that level yesterday. Ether rose to as high as 2,086. However, the fall back below 30k in BTC has completely derailed that move once again. Ether was sent tumbling back below 2k late last night. The move lower was carried further at the start of the Asian session today, delivering a drop to 1955. It has steadied since then, but there has been no recovery back above 2k yet. The range seen so far today has been covered by that low and an earlier high at 2,002. The 21 day moving average is still falling very steeply and in place right now at 2,207. ETHUSD is currently trading at 1,982

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