Ethereum rejects move above 1750

At the end of last week Ethereum (ETHUSD) build a technical base at 1450. The price held there three times on Friday. That set a very nice platform for further gains over the weekend. The second biggest cryptocurrency rallied on Saturday, rising above 1600 and later above 1650. That move was followed by further consolidation before another lift off move unfolded at the start of the Asian session earlier today. That saw a move to 1752 play out. A minor relapse was then followed by another rebound to a fresh session high at 1755.20. However, the subsequent drop back below 1700 earlier this morning has now set up a clearly defined double top, just above 1750 that has led to more downside since. The price has fallen back to as low as 1661 short while ago. There is also the potential for a deeper fall back, below a minor double bottom that was set in place on Sunday. That is in place between 1632 and 1636. If that level breaks down, then there is the potential for the downside move to extend back below 1600. ETHUSD is currently trading at 1678.35