Ethereum suffered a sharp price drop in the last 24 hours. Yesterday, the coin lost as much as 23% from a high of $ 3946 to a low of $ 3025. However, the market rallied slightly at the end of the day to close at the 20-day moving average.
Today, ETH fell a bit, which put the price below the 20-day MA. Yesterday's price drop was quite extreme, and a quick rally is unlikely to take ETH to $ 4000.
ETH also saw a drastic drop against BTC yesterday, as the coin fell as low as 0.07 BTC. The coin had been falling since it broke above the 0.079 BTC resistance over the weekend.
After hitting yesterday's low, buyers quickly regrouped and pushed the market higher to close the daily candle at 0.0733 BTC (.382 Fib), where it is currently located.
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@mariya77