Ether at risk of further downside as US interest rates rise

It has been a while since there was any coverage here on the progress of Ethereum (ETHUSD). Well, since then the second largest cryptocurrency has risen to above $1700 and then fallen back below $1500. In fact, the high at $1721 came just last Thursday. A brief rebound from closer to 1600 came on Friday too. However, and in an identical move to that seen in BTC, the move to 1705 was reversed even more rapidly than its earlier rebound. That has led Ether to as low as 1422 at the start of the Asian session today. The overall pricing dynamics are much the same as they are for BTC, with the direction of the US stock markets, bond yields and the dollar all playing a crucial role. The fact that US yields are making fresh interim highs, especially at the front end of the curve, is pretty toxic for Ether. Unless that changes, then outlook right now is not positive. The range seen so far today has been covered by that noted low and prior high at 1491. ETHUSD is just now trading at 1447