OUCH! Ether could go to $1663 as SHORT sellers take action

ETHUSDT

On April 19 and 20, the bulls tried to keep Ether's price above the 20-day EMA (1,942), but the bears pulled Ether below the 20-day EMA on April 21. The first support on the downside is the 38.2% Fibonacci retracement level of 1,846, which is likely to attract strong buying by the bulls.

If the price turns up from this level, it improves the prospects for a rally to 2,200. If the price continues to drop and breaks below 1,846, the ETH/USDT pair may fall to the 50% retracement level of 1,755, followed by the 61.8% retracement level of 1,663.

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