Ether breaks below trend line support

Yesterday Ethereum (ETHUSD) did make further progress as it eventually recovered levels back above $4,100. The second largest cryptocurrency rose to as high as $4,127 yesterday evening. However, today has been a very different story as Ether has fallen back steeply and dropped back below $4k, to as low as 3,880 so far. The move lower today has also taken out what had been a developing uptrend support line. That was in place at 3,935 today. It is highly likely that stops and system based sellers entered the market once that level was broken. The price is yet to reclaim levels above that price point too, having just retested it a few moments ago. If that remains the case, then the current rebound might just prove to be temporary. ETHUSD is currently trading at $3,909