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Ether has a good hard look at $3k in weekend trading

09 Jan, 2022

On Friday it was noted here on the Quick News; that Ethereum (ETHUSD) was closing in on the $3000 level. Well, it did not quite drop that low on Friday afternoon. The price fell to as low as $3,065 just ahead of the 4pm London FX fix. The move lower was clearly driven mostly by a move to 1.801% in the US 10 Year treasury note. It then rebounded modestly into the wider US weekly close, rising back above 3,200. However, later on Saturday afternoon it fell back once more, after it had failed for the whole day to gain any traction above that 3,200 level. Ether dropped back to as low as $3,000.05 on Saturday evening. In fact, it tried 4 times to break below that $3k level, but in the event it clearly ran into some decent buying interest at that price point. The rebound on Sunday evening has seen it just now rise to as high as 3,181 which is not conclusive by any measure and it remains to be seen what lies in store for it again this week

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