Ethereum takes a dive in late US trade

Yesterday was most definitely a day of two very distinct, and differing halves for Ether. The price did take out the 21 day moving average on the topside. That was in place at 1718.80 and the break above that level, and above 1721, extended to as high as 1739.80. It was already edging lower and perhaps the first warning sign was the break back below the 21 day moving average, because that was when the move lower really started to unfold. It proceeded to fall below 1700, 1650 and then below 1600 by the time of the wider US market close. Of course this move was led lower by Bitcoin and that helped it to drop to as low as 1546.53 earlier today. It has built a base from there though, and that has helped it push back to test 1600 a short while ago. Unlike Bitcoin though, Ether has held onto a similarly important rising trend line that comes into play today at approximately 1534. However, a sustained break below that level could open a path to retest the previous interim low (February 28) at 1327.18. ETHUSD is currently trading at 1593.40