Ethereum (ETHUSD) finds support ahead of 370

Yesterday it was noted here again that the repeated failure of Ethereum (ETHUSD) to sustain a move above 400 could lead the coin even lower for a potential test of levels around 365. Well, a little earlier this morning the price nearly reached those levels as it traded to as low as 370.75. It has rebounded from there now and it garners some support from a corresponding rebound in Bitcoin, back above 13,500 in the past few minutes. The move higher in both coins comes just after the European equity markets reopen and the general risk appetite improves a little further. The low in Ether also comes just ahead of a series of support levels that are in place right now at 369.25 and then lower down at 361.10. So all the while the price holds above those price points there is potential for another rebound to kick in. However, there is still significant uncertainty over the outcome of the US election to contend with first and that means that Ether is not guaranteed to rebound much in the near term and certainly 400, or just above remains a significant hurdle. ETHUSD is just now trading at 378.20