Ethereum (ETHUSD) looks set for another dip below $2000

The rebound in Bitcoin yesterday, as noted here a little earlier, was not conclusive as witnessed by its lack of upside traction so far today. That price dynamic has of course been replicated by Ether too. The recovery yesterday from the 1962 low seen on Sunday has not yet delivered upside momentum to any sufficient degree so as to rule out further downside. The second largest coin has failed to make any sustained gains above $2200 so far today and now it is tracking back ever closer to 2000 again. The clear immediate risk is for another drop below 2000 to then test the weekend lows once more. Right now that price point is unlikely to attract the degree of buying it did on the first occasion, and so a deeper retracement cannot be ruled out. Only a sustained rebound back above 2200 from here would tend to alleviate the immediate downside risk. ETHUSD is currently trading at 2065.50