Ethereum (ETHUSD) takes off again

Ethereum had already made some steady progress yesterday, rising back above 1450, but it really took off just after the 4pm London FX fix. The price shot above that level and rose to test $1500 for the first time in its relatively short life. Then later as the wider US market session drew to a close it lifted above 1500 and toward 1550. It has made some further headway, to as high as 1563 in Asia today. It is a little below that high just now, but given just how quickly this one can move it might not be there by the time this update is read. Now there is a gap for the European markets on this one which may see it reverse back closer to 1450 once again, but that is not a definitive target here. Of course it is once again now in uncharted territory so picking an upside extension is hard to assess. However, the rather vague channel configuration on the daily charts does suggest this current move could extend to 1600 or even 1650. ETHUSD is currently trading at 1552.10