Ether holds technical support level so far today

Yesterday Ethereum (ETHUSD) fell back from an earlier session high at 3,198. The drop back to as low as 3,046 came right on the 4pm London FX fix. The rebound that followed after that was rapid and dynamic, as the second largest cryptocurrency lifted sharply back above 3,150, to as high as 3,189 ahead of the wider US market close. However, it has still not been able to reclaim levels above 3,200 on the second attempt. It fell back earlier this morning, to as low as 3,054. Interestingly, that low was just above the 50 day moving average. That is in place right now at 3,052. The range seen so far today has been covered by 3,054 to 3,161. The short term trend is still correctively higher, whereas the longer term trend remains in the other direction. ETHUSD is currently trading at 3,089