Ethereum edges back from yet another record

Despite some downside elsewhere in the crypto sphere today, Ethereum has rebounded again to post yet another record this afternoon. A short while go the second largest cryptocurrency continued in its quest to become the largest one when it rose to a new all time record at 4379.62. That just overtook the previous record that was set earlier today at the very start of the European session at 4368. However, it has not held that gain and has now slipped back towards 4300. The move lower is perhaps an indication that a degree of exhaustion is kicking in at these heady levels. As noted here earlier the current technical position of this one is extremely overbought. In fact, almost as overbought now as it was earlier this morning. The current 14 Day Relative strength index (RSI) currently stands at 91.65. ETHUSD is just now trading at 4318.50