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Ethereum (ETHUSD) still struggling to reclaim $350

23 Sep, 2020

The recent breakdown below $350 in Ethereum (ETHUSD) has ensured the price has remained subdued below that level so far this week. The price touched 331 Monday, but has tried to rebound since. However, it has not managed to reclaim that earlier breakdown level at 350 despite efforts yesterday and earlier today. On both days the rebound in the price price stopped short, stalling around 345. The high seen much earlier today, during the Asian session was around 346 and now it is drifting lower again and threatening to set a new interim low underneath 331. The price reached 332.75 as the European markets reopened and it has not managed to lift much above there since. Granted, it is just now a little higher, but anything this side of 350 is clearly not of much consequence. All the while that level cannot be reclaimed on a sustained basis then the downside is clearly still in vogue. ETHUSD is just now trading at 335.85

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