Ethereum (ETHUSD) suffers a further fall towards $300

Yesterday it was noted here that all the while Ethereum (ETHUSD) remained below 350 there was a risk of further losses. Well, that is exactly what happened last night. Earlier in the session the price was simply unable to make a serious attempt at recapturing the 350 handle and that was a clear alarm bell for the prospect of another lurch lower. So, as the US equity markets fell back harder, Ether came under pressure again and that pushed the price down to as low as 313.20 in a move that unfold quite quickly once the previous interim low at around 331 was surpassed. The price has steadied a little today, but it is yet to rebound back above that 331 level. Hence that is currently providing another layer of interim resistance ahead of 350. The range so far today has been set at 316.60 to 326.75. Naturally, $300 is a level of psychological support that may hold today, but that will probably depend on how the wider crypto market fares as the day progresses. ETHUSD is just now trading at 325.10