Ether drops back after failing to take out $4000 again

As noted in the previous update, the further gains for BTC today are not being matched by its main competitor. Ethereum (ETHUSD) did make a move close to $4000 earlier today, but it could not get above that level this time around and the rejection of that price point has now seen it fall back below 3,900 once more. The move lower is certainly not conclusive though, but all the time the price action delivers a move lower in the cross rate with BTC then that will add pressure on the coin in dollar terms. The range so far today has been covered by 3,868 to 3969. ETHUSD is currently trading at 3898