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ShinForex1

Ethereum's Drop: Is $2500 Still in Sight?

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Ethereum (BITSTAMP:ETHUSD)  
ShinForex1  
BITSTAMP:ETHUSD   Ethereum
Trend Analysis Chart Patterns Technical Indicators Ethereum (Cryptocurrency) ETHUSD Bitcoin (Cryptocurrency) Cryptocurrency ETHBTC bitcoindominance ETH BTC altcoins
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trendanalysis chartpattern indicator ethereum ethusd bitcoin cryptocurrency ethbtc bitcoindominance eth btc altcoins
I mentioned in the previous video that we might see a drop in the price of Ethereum as the ETH/BTC pair breaks lower due to liquidity being drawn to Bitcoin.
snapshot

We have observed a relief rally towards the 20 EMA, following the breakdown of the ETH/BTC pair, while still respecting the 20 EMA.
snapshot

Based on the previous cycle in 2019, we saw something similar as ETH/BTC broke down the support. ETH/USD retraced towards the 20EMA before dropping about 30%, so we could have something similar play out.
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