Weekend rebound in Ether rejects rise above $2,650

As noted here earlier this morning, the weekend rebound in Bitcoin was helped by some corresponding gains for Ethereum (ETHUSD) too. The second largest cryptocurrency reclaimed levels above $2,500 on Friday and that rebound set up some further upside in weekend trading as the price rose further, above $2,600. However, that rebound stalled short of 2,650 on Saturday and Sunday, despite making several attempts to get past that level. In doing that it also set in place a clearly defined double top on the daily charts at just above 2,630. As a result of that, the drop back today has extended back below 2,500 once more. The range seen so far has been covered by 2479 to 2,631. Looking at the longer term chart, the 50 day moving average is still falling steeply and has now extended its fall further below the 200 day moving average. The 50 day is now at 3,386 and the 200 day is now at 3,504. ETHUSD is currently trading at $2,536