During the recent blood bath, ETH price lost some significant support levels, like 200-EMA, $3600 psychological level, price pattern support. Today ETH price showed a sharp dip which breached the 0.5 Fibonacci retracement level, indicating the extending correction phase.
Ethereum Price Analysis: ETH Price Drops Below The 50% Retracement Level, Is $2900 Next?
coingape.com
09 January 2022 19:52, UTC