Ether roars back

Last night, as the US stock markets reversed their earlier losses and risk piled back into the markets and the dollar fell back, both BTC and Ether charged higher. However, it was Ethereum that really stole the limelight. The second largest cryptocurrency rose from a session low at 3,644, which was reached right on the 4pm London FX fix, to above 3,900. The break above the 100 day moving average, which had stalled it earlier in the day clearly tripped stops as it then raced to as high as 3,990. That move was followed by a drop back below 3900 again, but it was not finished there. A late charge into the wider US markets close saw it climb above 4000 and close to 4100. The high set was at 4093. It has backed off in Asia today and that is no surprise given the gains over the past 12 hours. The range today has been covered by 3,981 to 4070. It is currently trading at 4013