Ether extends drop below $3,300

Following on from an update a short while ago, Ethereum (ETHUSD) did break below the noted double bottom in place at $3,300. As stated here many times over, this is often a characteristic of the price action for Ether and BTC too for that matter. They set in place short term double tops, or bottoms in this case, and then the break eventually comes thereafter and that break provides the necessary impetus for a more extensive move. This is exactly what has happened to Ether this afternoon. So, if you care to cast an eye at a short term chart of the price action on the platform you will see exactly what I am talking about. The price has now fallen to set a fresh session low not long ago at 3,236. It is not much above that low right now, but that is not to rule out a further extension to the downside. Only a sustained break back above 3,300 from here will truly snap the current run. ETHUSD is just now trading at 3,238