Ethereum (ETHUSD) rebounds from another drop below 4k

Yesterday afternoon both Bitcoin and Ethereum came under heavy selling pressure. The noted 50 Day moving average on Ether did eventually give way and as suspected, there was a fair few stops tripped in the process, as that downside break unfolded. That led the second largest cryptocurrency to fall down to as low as 3,962. It is probably fair to say that more stops were tripped once it fell below 4000. The subsequent rebound ahead of the wider US market close did not hold either as it then dropped back again, from just below 4,100 to as low as 3,960 in Asia today. However, is has now bounced once more and has lifted to as high as 4,104 so far today. The price action in between 3,950 and 4,100 does look sideways, but at the same time it does seemed to have found a base ahead of 3,950, as there is a clearly defined double bottom in place on the daily charts now at 3,960. ETHUSD is currently trading at 4,065