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Ether grinds back above $2k again

23 May, 2022

The most recent price action in Ethereum (ETHUSD) has seen it trade mostly sideways in between a defined range, covered by 1900 to 2100. The failure to make progress much beyond 2,050 on Friday afternoon led to another fall towards 1900. The low seen just after the 4pm London FX fix was set at around 1920. However, a steady rebound over the weekend helped it edge back above 2k yesterday and earlier today it managed to extend that move to as high as 2,054. Looking at the longer term charts, it is still clearly trying to clear above that 1705.95 bottom it reached on May 12. That is not assured though and it it still camped below earlier rebound highs this side of 2,200. The 21 day moving average is still falling steeply too, and this morning in place right now at 2,247. The range seen so far today has been covered by 2,004 to 2,054. ETHUSD is just now trading at 2,038

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