Ethereum backs away from yet another record

Well, it is perhaps not that much of a surprise, but earlier today Ether rose to set yet another news all time record high. The second largest cryptocurrency rose to as high as 3,545 at the start of the Asian trading session today. However, it has dropped back by around $100 since making that high. The immediate price action suggests that it might extend that move lower a little more right now. The high earlier today, whilst being a new record from that reached earlier in the week did not extend by very much and that could be a warning that a degree of exhaustion in the uptrend is hampering the topside. It is surely too early today to cast a lasting judgement on that, but something to be mindful of all the same. ETHUSD is currently trading at 3442