Ether yet to reclaim $2500

Yesterday the breakdown below $2500 in Ethereum (ETHUSD) that was noted here as soon as it happened, led to a quite marked sell off. The second largest coin broke below a number of support levels. There were clearly stops in place all the way down as it later fell back below $2400. The low print was set at around 2,360, but that is often a grey area when it comes pin pointing the exact low, as that can vary significantly from one exchange to the next. Irrespective of that, the price has rebounded today and has traded to as high as 2,456. However, that rebound is yet to recover back above the 100 day moving average that it broke below yesterday. That was in place at around 2477.75. So, until it at least reclaims that level the current rebound delivering more upside is by no means certain. Of course much will depend on the immediate path of Bitcoin too. However, Ether did not garner much traction from that direction yesterday as the unwind of the relative strength positon with BTC continues to remain in vogue. Ether is just now edging a little lower too, currently trading at 2442