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Ethereum rebounds from session low

18 Dec, 2020

Yesterday it was pretty much one-way traffic for Ethereum (ETHUSD) as the price moved to reach a new 2020 high at 677. Naturally, a good deal of that gain was due to the continuation of the impressive rise in Bitcoin. Hence, it was probably of little surprise to see Ethereum slip back after Bitcoin peaked last might around 23,720. The drop back there set up a similar more for Ethereum, as the price slipped close to 625 earlier today. However, it is on the rebound again now, but not yet convincingly so. The price has now lifted back above 650 this morning, but it remains to be seen if it has the impetus to recapture the highs reached yesterday. ETHUSD is currently trading at 653.50

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