Ethereum (ETHUSD) drifts back from new record

Yesterday Ethereum was the driver of the major crypto pairs once again. It was in control of the price action in Bitcoin too as it once more outshone its main rival. That later led the price to reach a new all time record when it surpassed the previous one that it has set at the start of the Asian session. That was at 2717. The break above that level ahead of the wider US market close set in place the motion for another record high earlier today. Ether reached 2761.35 at the start of the Asian session, but since then it has run into some selling. The coin fell back to as low as 2671.75 not long ago. It is trying to rebound right now and ruling out another attempt to set a further fresh record would be as short sighted as it would have been for more than a week now. Having said that, there will be a deeper correction at some point as this one is still due a reckoning sooner or later. Also, it is clear that Bitcoin does not want to partake in this game right now, but more on that in a minute. ETHUSD is currently trading at 2711