Ether rebounds above 4k again

Yesterday as BTC slipped closer to testing the 45k level, Ethereum (ETHUSD) also came under further downward pressure. The second largest cryptocurrency fell back to as low as $3,756. However, it also rebounded into the wider US market close and for all the same reasons that led BTC higher too. That recovery extended to above 3,950 in late US trading and today it has once again managed to climb back above that $4k level, reaching $4,053 earlier on. The rebound has yet to rise back above its 21 day moving average, which is still falling and currently in place at around 4,112. As with Bitcoin, that modestly positive technical break above similar trend line resistance is not necessary that conclusive yet. It will need to rebound quite a lot more, if it is to shift the immediate downside trend. ETHUSD is currently trading at $4,006