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Ether set to take out next important support level

24 Feb, 2022

As noted a little earlier on here, Bitcoin has taken a hammering overnight and so has its second largest counterpart. Ethereum (ETHUSD) has dropped below the noted final retracement support level, at 2,425. The rise yesterday, to as high as 2,755 has been completely unwound. The price has now fallen to as low as 2,301 and it looks set to lose even more ground under the current risk averse conditions. The risks of a deeper fall below $2000 were highlighted here several times already this week and right now that prospect looks as live as ever, if the price drops below the noted January 24 low, at 2,160. ETHUSD is just now trading at $2,320
 

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