Ether reaches first corrective target

Since an earlier update on the progress of Ethereum (ETHUSD) today, the second largest cryptocurrency has made some further gains. It has rebounded back above 3,100. The price does appear to be stalling somewhat above that level now though. The rebound high today has been set at 3,131. The top yesterday was at 3,285 and the low much earlier today was at 3,004. The 38.2% retracement of that whole downside move came into play today at 3,111, so it has now corrected some of that drop. The next retracement target is 50% and that is at 3,144. The question now; is whether it has corrected enough, or there is more to come? Meanwhile, the risks of another relapse, to test that $3000 level again have not yet been removed. ETHUSD is just now trading at $3,100