Ether rebounds back above $4000

The fall back in the price of Ethereum (ETHUSD) to below $4000 yesterday was largely delivered by a corresponding drop below its 21 day moving in BTC. That saw the price of Ether fall to as low as 3946. The subsequent modest rebound into the wider US market close last night was then followed by a deeper drop that saw the price extend below 3,946, to as low as 3893 at the start of the Asian session today. However, it has managed to rebound back above 4k once more this morning. That move to the upside is outpacing BTC right now, but then it was already ahead of the game in that respect. Notwithstanding that, the longer term direction remains uncertain and the risk of more downside has not gone away all the while that major double top (4379 and 4372) continues to cap the upside. ETHUSD is currently trading at 4020