Ethereum (ETHUSD) drifts back below $3,900

The price action across both BTC and Ether has been pretty subdued so far today. Both of them have slowly drifted lower over the past couple of hours and now that Bitcoin is dropping back closer to 51k it is seemingly being led lower by Ether. The second largest coin by market cap has now dropped back underneath $3,900. That means its is yet to trade above 4k today, despite briefly rising above that level in weekend trading. There is no immediate news catalyst for the move lower and seems to rest more with a lack of traction or urgent demand at the current elevated level. Notwithstanding that observation, the trend higher has not changed, but as we know, rarely do such things move in a straight line. ETHUSD is currently trading at $3,896