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

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.


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


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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