Ether closing in on technical support level as BTC takes another hit

The two largest cryptocurrencies have just taken a hit. Bitcoin has dropped below 63k for the second time this week and has in fact surpassed the low it reached late on Wednesday evening, when it fell to as low as 62,944. The lead coin has just now fallen to as low as 62,523. That move could be, or more rather looks like it is stop loss driven. At the same time Ethereum (ETHUSD) has also fallen back too and threatened to break below $4500. However, and so far it is yet to fall below the low point it reached on Wednesday evening. That was at $4472. The low print just now was set at $4519. Meantime, that 21 day moving average that has guarded the upside trend for some while is in closer proximity now. It is in place right now at $4416. Hence, ruing out a test of that level, either tonight, or over the weekend might be unwise. ETHUSD is just now trading at $4,526