Ethereum (ETHUSD) tumbles in morning trade

Yesterday Ethereum (ETHUSD) did make some further progress, rising to above $624 by the time of the 4pm London FX fix. However, that was the extent of it and the price gradually slipped lower into the US close. Earlier today it did subsequently rebound again for another look at $620 but it has come unstuck once more. This time the drop has been much more rapid. The price has catapulted lower, breaking underneath $600, to as low as $588.75 so far. Indeed, it is not far off then level right now and it is following, or more likely leading Bitcoin lower right now too. The breakdown today, below 600 does risk a deeper corrective retracement ahead of the weekend. That could open up a move to below the previous corrective relapse earlier in the week when the price fell to around 566. ETHUSD is currently trading at 590.30