Ethereum (ETHUSD) steps back after impressive $1000 rebound

Yesterday the rebound in Ethereum (ETHUSD) continues without much interruption. The second largest cryptocurrency rose steadily all day, first surpassing $2,200, then 2,400 and later 2,600. Earlier today it went one step further when it lifted above 2,700, to as high as 2753. That top means that since Sunday the coin has recovered more than $1000 (it reached a low of 1732.65 on Sunday) in a matter of less than 48 hours. That is a gain of almost 60%. Surely that is scary to some, yet most welcome by those that were not carried out of the trade during the weekend meltdown. The question now; is where to next? Well, that is not an easy one to answer. In the very short term, perhaps some further downside would appear to be on the cards. There is also an important level a little higher up that will need to be cleared if more upside is to be seen. That is currently in place at 2803.50 and is the 50 day moving average. More immediate support should be found now at 2280.50. ETHUSD is currently trading at 2581.50