Ether could sink another 80%, chart watcher says

Technical analyst ether is “oversold daily and oversold weekly and cannot rally,” Roque said in a note Monday.
A replica "ether" cryptocurrency coin. Image: Jaap Arriens, NurPhoto/Getty Images

Ether, the second-biggest cryptocurrency by market cap, has fallen about 60% from its November record.

It could be due to drop another 80% or so, according to technical analyst John Roque of 22V Research.

His downside target is around $420, compared with its current level about $2,000, Ether is “oversold daily and oversold weekly and cannot rally,” Roque said in a note Monday.


© 2022 Bloomberg L.P.

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