Ether still holding its wider range

The second largest cryptocurrency, Ethereum (ETHUSD) has managed to rebound from an earlier low today, at 2790. It had been trading at 2,863 around the time of the wider US close last night. The rebound today has taken it to as high as 2,931. Now in recent updates here the price has been noted as holding a wider 2700-3300 range and to explain why that is the case one just has to look at a longer term chart of the coin. You can see its 50 and 100 day moving averages have been covering the price action for quite a while now. Those are currently in place today at 2,765 (100 day) and 3,288 (50 day). So there you have it; an explanation of why that wider range has been commented on and referred to here many times recently. Within that range the configuration of the chart continues for the time being to evidence a downside bias. ETHUSD is currently trading at 2,910