Ethereum (ETHUSD) falls to test important support level

The drop back in all the leading cryptocurrencies last night was covered earlier on in an update on the moves seen in Bitcoin. Well, understandably that fall out did not escape the number two coin either and Ether duly slumped last night too. In fact, that fall has extended further today and a short while ago Ether fell to test its 200 day moving average. That is in place right now at 3,402.55 and the price has just now dipped below it. The low point was set at around 3,386, so it is possible that some stops have been removed below it. That cannot be confirmed here. Irrespective of that, this is an important level and has defined the bottom of the range for a good long while. Ether has not fallen below its 200 day moving average for many months and so it is under a real test of that today. The trend is still higher, but a sizeable fall below this moving average, if sustained could shift that trend. ETHUSD is currently trading at 3,400