Ether draws a line in the sand at $1000

Just as with Bitcoin, Ethereum has recovered well since the last update here. The second largest cryptocurrency managed to draw a line in the sand above $1000 last week. Despite several attempts to bust below that level, it did hold firm and that has helped the rebound since. Also and as identical to BTC, the move back above the 21 day moving average for Ether has really helped to shift the short term pricing dynamic. That 21 day moving average is in place right now at 1120. Since setting at low at 1,010 on June 30 the high seen since has been set at 1,202.94, reached earlier today. It has backed away from that high now, but all the while above that 1,120 level on a daily closing basis, the short term outlook should remain positive. The low seen so far today has been set at 1154.80. ETHUSD is currently trading at 1164.05