Ether suffers a similar fate to BTC

As noted here yesterday, Ethereum (ETHUSD) did not set in place a technically negative formation because it rose to set a new all time record high, just like BTC. The price of Ether lifted to as high as $4,866 right on the 4pm London FX fix, exactly at the same time as BTC made a similar move. However, the fact that it did not set in place a technically negative set up did not stop it later crumbling. The price evaporated to as low as $4,472 just ahead of the wider US market close. It has managed to rebound somewhat today, reaching back to as high as $4,677 so far. That has just surpassed the 50% retracement target of that whole drop. That is in place at $4,669. So it remains to be seen now, if the rebound will continue to the next target level (4,715) or now the immediate downtrend will resume. ETHUSD is just now trading at 4,673