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Ether hits new session low

14 Jan, 2022

The rise in Ethereum (ETHUSD) yesterday saw it lift above 3,400. It rose to as high as 3,412. However, and as noted here yesterday afternoon, that rise was soon reversed as BTC also came unstuck ahead of the 4pm London FX fix. That earlier high also set in place a clearly defined double top, from the previous high, set on Wednesday evening, also at 3,412. That has now helped to push the price back a little further today and a short while ago it set a new session low at 3,205.47. It is trying to rebound a little right now. However, that double top failure at 3,412 could be significant in the slightly wider sense, because it also stalled below the still rising 200 day moving average. That is in place right now at 3,454. ETHUSD is just now trading at 3,216

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