Ether steps back from above $2700

Yesterday it was noted here; that Ether had managed to make further progress and reclaim the $2500 handle that had capped the topside since the end of last week. The move higher above 2500 yesterday morning was extended further in Asian trading today as the price rose above 2700, to a session high so far of 2740. However, it has just backed away from there in recent trade, falling back below 2650 a short while ago. The move higher is potential further evidence that the uptrend is trying to re-establish itself and that might become more apparent if the coin can reclaim levels above the current 50 day moving average. That is in place right now at 2868.25. On the bottom side, the 100 day moving average, now at 2327.40 is likely to add support should a relapse back below 2500 unfold. Both those moving averages are still rising which is an endorsement of the medium term trend. ETHUSD is just now trading at 2653.65