Ether rally corrects a little more

On Thursday last week, the price of Ethereum (ETHUSD) rallied to its best levels of the month when it rose to as high as 1783.96. Indeed, that high represented an almost 80% increase from the lows seen around the middle of the month. However, since then Ether has been struggling to make further headway. It did have it within its grasp to do that over the weekend, but it stalled above 1750 yesterday evening. Since than and so far today it has been tracking lower and this is perhaps little more than just profit taking, after what has been a great couple of weeks for the second largest coin. The high seen earlier today was at 1725.25 and since then it has fallen back to as low as 1642.75, reached a short while ago. That earlier high also fell just short of rebounding back above its 100 day moving average. That is in place right now at 1731. The overall trend remains higher, but at the same time this current corrective phase might extend some more in the short term. ETHUSD is currently trading at 1656.50