Ether backs off from new high on the week

Bitcoin has continued to reject any move above an important and noted resistance level at 46,847. Since the last update here the lead cryptocurrency has topped out today at 46,583, but of course there is still plenty of time and opportunity for another look at that level. Meantime, its number two, Ether has made some further progress today. A short while ago it rose to as high as 3,249 which just surpassed the high it set yesterday. That was at $3,234 and was followed by a move to back below 3,100. Well the further rebound today has of course also helped Ether gain against BTC in relative terms too, and it is still holding those gains right now as well. As also noted here yesterday the next big level on the topside is at 3,356 and that price point represents a 61.8% retracement of the whole move down, from 4379, to the lows at 1701. ETHUSD is just now trading at 3,228