Ethereum Drops 6% Post Byzantium

Ethereum dropped over 6% today and is currently testing support at $300.00. Time will tell if this is a result of peoples lack of faith in the upgrade path, or if it's just a temporary price correction.

Ethereum has been trading in an ascending channel for a few weeks now since crashing down to $200.00 about a month and a half ago. If Ethereum breaks below support, we could see a retracement back to $200.00, which is where the next major support lies.

However, this slight retracement could simply be attributed to the fact that the market had already priced in the planned Byzantium upgrade. In the days prior to the Byzantium launch we saw ETH climb from $300.00 to test $350.00.