Still no rebound yet for Ether

Yesterday afternoon and update here noted that Ethereum (ETHUSD) had fallen back below $3000 late on Friday. It was also noted; that Ether had been unable to recapture that level in weekend trading. Well, that is still the case this morning too. The drop back from the 3,286 high seen last week is potentially corrective, but it could also define the start of a reversion to an even deeper relapse, below the January 24 low, at 2,160. The next technical support level is now at 2,723 which represents 50% of that range. After that comes 2,590 (61.8%). The immediate pressure looks still skewed to the downside this morning, and as noted here yesterday, only a sustained rebound back above 3,125 is likely to shift that outlook. ETHUSD is just now trading at 2,856