Ether not out of the woods yet

Yesterday Ethereum (ETHUSD) did manage to rebound from an afternoon session low at 1782. The recovery above 1800 then extended further earlier today, when it reached an Asian session high of 1851. It has backed away from that high now. So, whilst rebounding a little more, it is not yet making making much progress. All the while it remains underneath its 21 day moving average (right now at 1931) then it is still at risk of a deeper fall below 1705. However, that moving average is beginning to turn higher which could indicate that the tide is turning. Ideally it really needs to sail well beyond 2,000 in order for the trend to change to something more positive. The range seen so far today has been covered by 1815 to 1851. ETHUSD is currently trading at 1824