Ether tops out at $3200 so far today

Earlier today Ethereum reached its highest level since May 19 when it rose to as high as $3200. That further rebound stopped short of the next Fibonacci retracement level which is in place at $3,356. There is no apparent reason for the stalling at 3200 apart from it being a nice round number. The price dropped back to around 3090 a short while ago and of course a $100-200 swing is nothing for Ether these days so it might not be finished with the topside today. However, the immediate price action does see a series of lower highs kick in from that earlier peak which does infer there might be some more downside to come in the short term. That remains to be seen. ETHUSD is just now trading at $3,105