No rebound yet for Ether

Yesterday it was noted here; that Ethereum could and more likely would extend any move below a highlighted support level at just above $3,950. Well, that is exactly what happened as the price initially fell to test the $3,900 area once that 3,950 price point was breached. However, the extent of the fall that followed even surprised here, because it fell back almost 7.5% below that 3,950 level when it dropped to as low as 3669. It has not really recovered that fall overnight and so far this morning. Despite a modest rebound into the Asian session today, it has now dropped back close to those lows just ahead of the European reopening today. The range seen so far today has been covered by 3,694 to 3,833. It is currently trading at 3,712. The next potential support level is at 3,482, which was the low reached on December 4 when the price suffered that latest weekend meltdown