Ethereum (ETHUSD) drops back below $1600

Ethereum is on the move lower now today. Earlier the price was trading around 1650, but it has now dropped back below 1600 again. It was noted here earlier on.; that the price had potential to extend either side of 1550 and 1715 and that observation remains intact. It was also noted that the immediate upside looked more likely, but that has not been the case as the price falls back. The drop back below 50k in Bitcoin right now has also helped to push Ether lower. However, the move lower has not yet moved the coin outside of its current day range, but it would be sensible not to expect that approximately $100 range to hold for the rest of the day because as we know, it has been trading in excess of $200 most days and some much more than that. The potential for acceleration below 1550 is also live too right now. ETHUSD has just bounced slightly and is currently trading a little above 1600 at 1606