Ethereum (ETHUSD) takes a brief look above 350

The rebound in the cryptocurrency space yesterday allowed for Ethereum (ETHUSD) to take a welcome breather. The leading coin managed to hold ground above $300 and stage a rebound that has been extended slightly so far today. A short while ago the price just popped above 350 for the first time this week. Ether has earlier lifted to as high as 353.20 this morning, but it did not stay up there long and subsequently slipped back below 340 again. The price action thus far today is suggestive of stops above 346 and 350 and little more at this stage. Consequently, the rebound is not certain to have further traction unless it can make a more convincing move beyond 350. There is no doubt that the move higher since this time yesterday has been led by its bigger brother and as such it looks likely to continue to track the path that Bitcoin sets as the day unfolds. ETHUSD is just now trading at 344.10