Ethereum reclaims the $1600 handle

Much earlier today at the start of the Asian session, Ethereum (ETHUSD) rose to as high as 1625.20. Yesterday the second biggest cryptocurrency held a range covered by around $200, but so far today $100 has been the extent of it. Earlier today during the European morning the price fell back to as low as 1529.70. It is now on the rise again and just now reclaiming the 1600 handle again. The speed of the price action has just picked up pace too following the US equity market reopening. Now given that $200 is not far off any given daily range at the moment it might be logical to assume there is more in the tank for this one today. Question is which way? Up to 1725 or back down to 1425, or perhaps something in between. Right now the odds would seem to favour the topside with potential for acceleration on a break above 1625, but with the obvious caveat; for extreme disappointment if 1525 caves in. ETHUSD is currently trading at 1602.20