Ether reaches first technical retracement target

As noted in the previous update, it has been a positive session for the leading cryptocurrencies in Asian trading today. The move higher in BTC has seen corresponding gains for Ethereum (ETHUSD) too. The second largest coin has further extended its move above $3,000. Today it has lifted above, 3,200 and in doing so it has met the first of its prominent retracement targets. That was at 3,193.98 and represents a 38.2% retracement of the whole move down, from the 2021 high at 4,866, to the 2022 low at 2,160. The range seen so far today has been covered by 3,114 to 3,233. It is currently trading at 3,175