Ethereum (ETH/USD) came off early in today's Asian session as the pair depreciated to the 1445.79 area after trading as high as the 1672.49 area during the North American session, with the interday high representing a test of the 50% retracement of the depreciating range from 1976.72 to 1356. Chartists observe the intraday low was just below the 23.6% retracement of the depreciating range from 1805.03 to 1356. Stops were elected above various retracement levels during the recent recovery higher, including the 1633.50 area that represents the 61.8% retracement of the depreciating range from 1805.03 to 1356. Stops were elected below many downside retracement levels during the depreciation earlier this week, including 1773.22, 1747.24, 1722.31, 1702.67, 1656.37, 1607.31, 1585.49, and 1540.52. If ETH/USD extends its recent depreciation, potential technical support includes 1328.99, 1285.87, and 1205.96.
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