Ethereum (ETHUSD) reaches another 2 Year high

Yesterday Ethereum (ETHUSD) rose above $600 for the first time in over 2 years. It was noted here yesterday that the next level of resistance was in place at around $620. Well, that is exactly where ETHUSD has lifted to in earlier trading today. The high recorded so far has been set at 620.83 which almost exactly matches the high it set back June 3 2018, when it peaked at 620.93. The price did fall back sharply from that level a short while ago, falling like a knife to as low as 590.15. That move was clearly all about profit taking. This is perfectly understandably given the speed and extent of the rise recently. The question now is whether or not that 620 level will now cap the topside for the rest of the day? That is hard to predict, but it would be no surprise if it did because the gains on this coin have been such, that a deeper correction may be warranted sooner or later. However, betting against it at the moment has been disastrous for anyone that has tried. ETHUSD is now trading at 610.55