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Ether takes out stops below $2500

16 Jun, 2021

Literally, in the past few seconds as this is being typed Ethereum has just shunted below $2500 for the first time since Monday. That prospect was highlighted here a little earlier this morning when the modest rebound was noted as being entirely unconvincing. The move lower has just gotten a helping hand from further downside traction in Bitcoin right now too as the lead cryptocurrency falls close to session lows near 39,635. The move lower in Ether is now pushing the price closer to the 100 day moving average that is currently in place at 2477.75. The price action through 2500 was clear evidence; that as suspected there were stops in place below this level. ETHUSD has just traded to as low as 2483.38 and it is currently trading a 2488.90

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