Ether lifts to test resistance at 2,722

As the European morning unfolds, the price of Bitcoin just hit a fresh session high above 38,750 and that in turn has helped to lift the price of Ethereum (ETHUSD). The second largest cryptocurrency has managed to grind its way back above 2,700 this morning. The move higher comes after it managed to hold above 2,500. As noted here at the time, the low yesterday was set at 2,501 and the rebound today has now potentially put a base in place ahead of the noted 2,425 support level. That is by no means confirmed yet though and the risk of a deeper decline to test the current 2022 low, at 2,160 have not yet been removed. The rebound this morning has just now tested a resistance level at 2,722.75. That price point represents the exact half way point of the 2,160 to 3285 move. The high so far has been set at 2,722.90. If that is surpassed, then the next technical resistance level at 2,855.50 might then come into play. ETHUSD is just now trading at 2,702