Ether rejects first look back below $3,500

Yesterday Ether was the better of two major cryptocurrencies, when it rose to as high as $3,675. The break above 3,450 and 3,500 helped to propel that move, but it was already unravelling slightly later yesterday afternoon. The price did briefly drop back below 3,500 again earlier today, but it was not down there for long and it has rebounded since. Clearly the 3,500 area is still providing support and all the while that remains the case, then there is room for another look at the topside ahead of the weekend. Overall though, the current price action still resembles a corrective move of the drop from above 4000, back close to the 3000 handle seen earlier in the month, on September 7. Of course if it can reclaim levels back above 4000, then we might even be looking at new records for Ether, but it has to get there first. ETHUSD is just now trading at 3,563