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Ether higher but still far from reclaiming momentum

16 Jun, 2023

Yesterday afternoon both BTC and Ether managed to muster some support from the lower US yields, gains across the US equity complex and a fall in the dollar. However, given the extent of those moves, the rebound in either lead coin was not actually very impressive at all. So, the problem still remains- where is the real demand coming from in the short-term? It does not look exactly visible at the moment and rallies are still likely to attract more sellers than buyers of enough volume to extend any gains. Ethereum (ETHUSD) has bounced though, from close to 1,620 to near 1,680. Only above 1,720 might seem to restore some optimism. ETHUSD is currently trading at 1,668.60
 

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