Ethereum (ETHUSD) rebound from earlier low is not yet conclusive

Over the past 3 weeks Ethereum (ETHUSD) has traded in a range covered by 484 to 636. During that period, it has peaked and troughed twice and the latest move lower comes after reaching that high on December 1. Since then it has traded back to as low as 530.40 on December 9. The low earlier today stopped short of testing that level again. The low earlier on was set at 535.68. However, the high before that was set at 564.94 and that was, give or take right on the 21 day moving average. That is in place right now at 564.35. So unless the current rebound can rise above that level today, there is the prospect of a close below the level later today. All the while the price remains below that level there is a risk that the current downside corrective trend will continue. ETHUSD is currently trading at 549.65