Ether moves back for another look at the 200 day moving average

Earlier today, the previous update on the progress of Ether noted; that the second largest cryptocurrency had managed to rebound from an overnight low at 1860. That rebound had taken the coin back very close to 2000 again, but it was already slipping backwards at the time. Well, since then it has fallen further, no doubt driven lower by the current relapse in Bitcoin too. Well, in recent trade the price of Ether has just dipped below the 200 day moving average once again. That is still in place today at 1875. Now the price has fallen to as low as 1857.83 a few moments ago. It has just rebounded a little since, but the price action remains volatile and highly fluid. The immediate risk, as was also noted here earlier; is that this second fall below this support level delivers a more pronounced move to the downside. Even so, that is not an easy path to predict given the skittish nature of the current price action. ETHUSD is just now trading at 1877.50