Ether nails noted price level in Asian trading

Yesterday the quick news identified a potential fall to as low as $1860 for Ethereum (ETHUSD) as the price broke below the $2000 level. Well, without wishing to sound too smug, that is exactly where it fell to earlier today. In making that move it also did briefly penetrate the 200 day moving average. Now given the speed and rate of price movement of this coin, that moving average is chopping and changing on a daily basis and it is still rising quite quickly. Hence today it has now lifted to 1875.40. So, it is very likely that a few stops were earlier removed below that price point. Irrespective of whether that was the case or not, the second largest cryptocurrency has now rebounded as it tracks Bitcoin higher. Ether has risen back above $1900 and earlier spiked close to $2000 again. The high point earlier on was set at 1997.40. It has since fallen away again, and is now trading around 1940, but the price action is rapid and extended at times. Hence, once again today, a good deal of dexterity is going to be required when trading this one. In terms of its immediate price action, it is not taking any prisoners at times. Looking at the charts right now I would not rule out further upside beyond 2000 either, but all the while it remains below 2300 the prospect of further downside towards the May low around 1732 cannot not be ruled out. ETHUSD is just now trading at 1943.50