Ether steps back from earlier high

Earlier today it was Ethereum(ETHUSD) that led the move higher amongst the leading cryptocurrencies. The second largest coin rose to as high as $2913. That took the rebound gains from the low last weekend close to $1200. Also, in the process of making those further gains it lifted the price above a notable resistance level. That was in place at 2743.80 and represented a 38.2% retracement of the whole move down, from 4379.62, to the weekend low at 1732.65. The pullback from the morning high (2913) has not yet retested that breakout level at 2743.79 but it has certainly come off the boil as it dips below 2800 a short while ago. All the while that 2743 guards against further downside, then there is potential for the current upside reversal to continue. That could eventually take it to the next level. That is the 50% retracement of that whole lower move, which comes into play at 3056.14. Of course that is by no means a certain prospect either. It has to be remembered that this retracement is still corrective and not necessarily a dynamic new uptrend in the making. ETHUSD is just now trading at 2809.50