Ether steps back from $1600 again but support remains

Ether looked pretty steady in weekend trading. The Second largest cryptocurrency held its ground above $1500 for the most part. There was a brief dip below that level yesterday ($1488 the low), but it did not stay down there long and duly rebounded at the start of the Asian session today. The price lifted back to as high as $1664. However, and not for the first time, it has not been able to build on that gain and fallen back since. The low seen so far today has been set at exactly $1500 a little earlier this morning. Leave aside the immediate gyrations, this one is clearly still sandwiched in between its 50 day moving average (now at 1293) and its 100 day moving average (now at 1827). To be honest it can do what it likes in between those two levels without necessarily shifting the dial. On the technically positive side, the 21 day has now crossed above the 50 day. That is now at 1330. ETHUSD is currently trading at 1539