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No return yet to above $3000 for Ether

22 Sep, 2021

The drop back in Ethereum (ETHUSD) earlier today saw it surpass a previous interim low at just above $2,800. The break below that level delivered some further downside extension as stops and system sellers probably kicked in underneath $2,800. The subsequent drop to around $2,650 unfolded just as Asian players were returning to their desks after the US close. It has rebounded again since, but so far that rebound has stopped short of reclaiming the $3000 mark. The high on that rebound earlier was set at around 2,960. Now it has recently just dipped back below 2900 again and unless it can make a move back above 3000 from here, then the risk of another attempt on the downside will remain. It is hard to say exactly, but upon closer inspection of the price action of Ether and BTC, and the comparative price between the two, it is fair to say that Ether was in charge of the price action, when it fell to that new interim low last night. ETHUSD is just now trading at 2,895

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