Ether back above $3,500 today

Yesterday Ethereum (ETHUSD) did manage to make a recovery and despite looking like it could have another closer look at the $3000 level, the price gradually rebounded and that rebound has helped it back above $3,500. The low point yesterday was set at around 3,260 and the subsequent rise into the wider US close last night helped it back to around 3,560. It has not made any further progress on the upside so far today, but the price action is steadier. However, it really could do with a more sustained move back above 3600 from here or else there is still a risk of a break back below 3400 reopening the downside again. If that happens, then it could also lead to a drop back below 3,250 and that in turn might see it drive lower towards 3000 once more. ETHUSD is currently trading at $3,504