Ethereum (ETHUSD) breaks out of recent range

In earlier updates here today, it was noted that both Ethereum and Ripple were trading in a sideways fashion within a specified range. Well, ETHUSD has now risen above the most recent sideways range when lifting above $605 a short while ago. That move has delivered some price extension and acceleration, taking ETHUSD to as high as 616 so far. There is some further minor resistance in place just ahead of 620, but the move higher now is tracking another attempt by Bitcoin to deliver something similar above 19,500. Understandably, a break above 620 could open a path back towards the most recent highs at 636. Conversely, a break back below $600 from here on would probably stymie the upside once again. ETHUSD is currently trading at 613.60