Ethereum (ETHUSD) back above $1600 this morning

Well, it was another treacherous weekend trading session for Ethereum. As noted here yesterday evening, the leading cryptocurrency dropped more than $250 from its Friday high on Sunday. The price fell from above 1760, to below 1500. However, it has rebounded in Asian trading today, rising above 1600 once more. Ether reached a high of 1637.35 a short while ago. The earlier session low was set at 1555, up from the low point seen yesterday at 1494.14. The immediate chart dynamic is positive, so long has it continues to hold above 1500 today, but a break back below 1500 could open an immediate path back towards, or even below 1400. Given the extent of the price range over the weekend, it would be wise to expect more of the same today. ETHUSD is currently trading at 1629.40