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01/10/2022 03:31:10 GMT

Ethereum falling on the heels of Bitcoin

Bruce Powers, CMT Markets Today

Ethereum has dropped approximately 38% off its most recent high, while Bitcoin declined as much as 41%. If Ether's October $2,970 low is breached, this crypto could easily reach the next more significant support zone from around $2,446 to $2,305, as seen in the enclosed monthly chart. That price zone includes the Aug. '21 low support, 50% Fib retracement, and the 21-month exponential moving average (EMA).

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Bruce Powers, CMT

Bruce Powers, CMT

Markets Today

Bruce Powers, CMT, is a global markets technical analyst covering stocks, market indices, and ETFs, cryptocurrencies, Forex, oil and metals.

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