Ether takes a hit through technical supports this weekend

On Friday evening, the price action in Ethereum (ETHUSD) was similar in structure and nature to that just noted here on BTC. The earlier failure to even come close to recapturing the upside above 1,900 on Friday later told on the second largest coin. The formation of a clearly defined double top on the daily charts just above 1,1850 (on June 8 and 9) also stopped short of its 50 day moving average, at around 1,860. The subsequent fall through a previous low around 1,820 seems to have triggered stops, as the price accelerated through its 100 day moving average. That led to more of the same through another previous support around 1,800. The slide continued close to 1,720 early on Saturday morning. The rebound since has not been very impressive and not close to 1,800 so far this weekend. It has edged back to around 1,760 this evening, but remains under pressure ahead of wider Asian market reopening. ETHUSD is currently trading at 1,758