Ether showing signs of basing out

As mentioned here yesterday evening, the drop back below $3,300 in Ether yesterday afternoon did deliver quite an extensive move lower. The second largest cryptocurrency fell back to as low as 3,148 just after the 4pm London FX fix. It did rebound slightly into the wider US close, edging back above 3,200. Earlier today it tried to make further headway above that level, but was unsuccessful and fell back to as low as 3,161 not that long ago. However, it is rebounding a little now, reclaiming 3,200 and giving indications that it is basing out and might want to rebound further. Naturally a drop back below 3,150 might shatter the chances of that happening, but the current chart set up does indicate a further bounce could unfold from here. ETHUSD is just now trading at 3,205