The risk of a drop below $2000 for Ether is increasing

As with Bitcoin, since the last update here; the second largest cryptocurrency has come under heavy selling pressure. Ethereum (ETHUSD) is just as much a high risk instrument as BTC and right now even more so it would seem. The move to as high as $3,198 last week has completely unravelled now and only a technical support level at 2,425 lies between where it is now and the previous January 24 interim low at 2,160. If that level is taken out at some point in the near future, then a test of $2000 cannot be ruled out. Of course it has to get there first and for now $2,500 has capped the downside so far today. The range seen has been covered by 2,501 to 2,640. In order to snap this current downside momentum, Ether needs to make a sustained recovery back above $3,000 and that looks rather unlikely in the short term. ETHUSD is just now trading at 2,524