Ethereum (ETHUSD) the race higher continues

On Friday evening Ethereum (ETHUSD) nailed a price objective and potential resistance level at $511.17. That level had been previously, and clearly identified here on Friday afternoon. Well, once the level was touched, the price did slip back a little on profit taking, falling back towards $500. However, it did not stay down there for long because the break above 511.17 and towards 518 ahead of the weekend set up another impressive rally on Saturday. The price rose rapidly to the next level that was identified here on Friday. That was at 547.78 and defined the top reached back in July 2018. That level did manage to hold the topside in check for a while, but not for long because late on Saturday evening the price lifted again, resulting in a charge above 550, to as high as 562.35. Once again, and as with Ripple, that price extension took place during the twilight hours of Sunday morning, when liquidity and price discovery is always poor. It is also noticeable that the moves in both Ripple and Ether came as Bitcoin did not manage to make further progress so far this weekend. In fact, Bitcoin lost more than $1000 at the same time as both Ether and Ripple surged. Naturally, the suggests a significant amount of rotation took place between Bitcoin and the other two. ETHUSD has made even more progress now this evening, as it races to set another new 2 Year high at 568.25