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Ether hovering above $2500

16 Jun, 2021

Yesterday the rebound in Bitcoin to back above 41k did not really take many other leading coins with it and that certainly applied to Ether as it struggled to get above $2,600. Since then the pullback today to below 40k in BTC has again has delivered some downside pressure on Ether. That is now threatening to drop back below the noted support level at $2500. So far it has held the level with the low set at $2501.80. It has just rebounded slightly, but that rebound is as yet unconvincing. Ether will need to at least recapture levels back above 2600 if it is to avoid another drop below 2500. Of course it will depend on the level of remaining buying interest at that price point, and also what stops may yet lurk beneath there. ETHUSD is just now trading at $2,531

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