Ether under pressure today

Last week Ethereum (ETHUSD) fell back to as low as $3,699.75 on Friday afternoon. That low came right as the US stock markets reopened. The subsequent rebound into the weekend saw it rise to as high as 4,025 very early on Sunday morning. However, and since then it has come under pressure once again. Naturally the move lower has accompanied a similar downside run in BTC too. The price has traded in a range, so far covered today by 3,998 to 3,809. The notable take-away from that; is that it failed to reclaim the 4k handle this time around. The fall back today has also seen it drop back underneath its 100 day moving average (now at 3932). As noted last week, all the rebounds have continued to set lower highs and that is not positive in terms of a trend. At the same time the immediate price action is also forming a wedge too, with a series of higher lows. That infers a breakout will come soon. Right now that looks more likely on the downside, but it is not confirmed yet. ETHUSD is currently trading at 3,824