Ether rebounds from weekend lows

As noted in the previous update on the weekend price action in Bitcoin, the move lower there was once again clearly led by Ether. The second largest coin fell further late on Friday evening and that was extended upon earlier today, when it dropped to as low as 1524.62. However, it has rebounded again since, rising back to as high as 1640.48 around lunchtime. The move higher has taken it back well above its 50 day moving average (now at 1542.25). On the positive side, that is now closer to crossing back above the 100 day. However, it is in the balance right now and much could depend on whether or not there is another relapse and fall below 1500 from here on. If that were to happen, then it could undermine completely the recent, dynamic recovery from the low of the year, at 880.70. ETHUSD is just now trading at 1622.50