Do not be surprised if it cracks next time

Following on from an earlier update today covering the price action and yet another slump in the Ethereum (ETHUSD), the number two coin has been holding steady above 1750 for most of the morning, after falling to as low as 1725 earlier. However, and as just mentioned in the previous update, when looking at BTC, the rebound in Ether is also something of a dead cat. It is holding, but clearly still at risk of folding. Looking at the longer term chart once more, it is hard to underestimate the importance of that 1,705 double bottom, that it still precariously guarding the downside. Look there is no short position here on this one, so now vested interest to convey to you. The next move could prove decisive now, be that above 2000 or below 1700. All that can be gleamed here from that chart would suggest that 1,705 is a target that is still there to be taken out sooner or later