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Ethereum (ETHUSD) still at risk

08 Oct, 2020

Yesterday Ethereum (ETHUSD) again put in a very lacklustre performance. The coin failed to make any progress and the price did not get close to having another look at the 350 level. The subsequent low at around 335 did not break below the low point it had reached beforehand. However, today that looks entirely possible as the price drops to session lows near 335.60. The clear and immediate risk is that the price will now drop below the previous interim low around 332.90. The current chart configuration does not look very positive either. In addition, Ether is clearly keeping a very close eye on Bitcoin as it is always prone to do. That does not look too clever just now either and so unless Ether can reclaim some more upside above 340, and more especially above 350, then there are risks of another relapse to fresh interim lows. ETHUSD is just now trading at 335.85

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