Double top rejection above $1700 sends Ethereum lower

Earlier today Ethereum (ETHUSD) continued its recovery that saw it rise from as low as $1501 seen during the start of the Asian session, to as high as 1714 during the European morning. Not long ago it tried to reclaim that level after an earlier dip back to around 1665. However, it was not successful and stalled on the topside, this time at 1708. It has now fallen back lower once more, but this time it has dropped below 1650 as it surpassed the earlier interim low. Consequently, there is now an interim double top in place just above 1700 today. So, all the while that guards the topside, then there is potential for some more downside to come. So far the levels of volatility seen yesterday have not been matched today, but that does not preclude the possibility of it doing so at some point. The drop back below 50k once again on Bitcoin right now is also not helping Ether much either. ETHUSD is currently trading at 1638.50