Ethereum Digs Deeper into the $2000's

9 May 2022

Ethereum has smashed through several support levels over the weekend. We fell through $2556, and subsequently gave up the $2500's entirely. We are testing the next level down at $2454 at the time of this writing. We do appear to be seeing support from this level, but there is a lack of a pivot which suggests the market does not find current prices enticing enough and we could see lower prices. If so, $2402 is the next target. If that level fails, then we have two vacuum zones underneath it to $2324 then $2232.