In recent trading sessions it has been clear to see that Ethereum has underperformed its leading peer Bitcoin, and on some days by quite some margin. Even when Bitcoin raced to a new all time record above 61k, Ether was still unable to reclaim levels above $2,000. It topped out at 1942. Earlier today it fell back as it has tracked Bitcoin lower. The low set so far has been at 1714.82. Since that low point, reached much earlier today during the Asian session it has recovered to 1818.70. Hence, more than a $100 rebound which is not inconsistent for Ether. However, it has now turned lower again and is approaching a short term upward trend line that is has formed during the course of the morning price action. That is in place around 1765. A break below this level could reopen the lows of the day again and then it might soon try to retest the 21 day moving average that is currently in place at 1667.45. ETHUSD is currently trading at 1775.25