Ether drops back below $3900

Yesterday Ethereum (ETHUSD) was holding gains above $4000. That was until the Russian news upended the rally and it fell back from a high just above 4100, towards 3,950. The price action so far today has been to the downside too. The second largest cryptocurrency has now fallen back below 3900 as BTC continues to flirt with its longer term, 200 day moving average. The lower stock markets here in Europe and continued pressure on the US equity futures have not helped the sentiment either. The low seen so far has been set at around 3,854 and it is not much above that low just now. Looking at all that is surrounding Ether at the moment, the odds seem a little stacked against it right now. However, we do know just how quickly that dynamic can change, on even the most modest of positive sound bites. The problem right now is a lack of that. ETHUSD is currently trading at 3,882