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Not much upside so far today for Ether

24 Jan, 2022

The crumble in the price of Ethereum last week was exasperated by the drop back in BTC, but more so because of the relative price between the two falling back substantially against Ether. That has now fallen below 0.07 where a few weeks back it was rising close to 0.09. That has delivered a deeper fall for Ether versus the dollar since this time last week. The fall back below $3000 for Ether was extended once it broke down below rising trend line support just above that level on Friday. That saw it melt to as low as 2,302 on Saturday, effectively losing almost one third of its value in just two trading days. It has consolidated since that low, but without making any substantial progress. The range seen so far today has been covered by 2,412 to 2,548. ETHUSD is currently trading at 2,414

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