Ether slides back underneath $1,200

The rebound earlier today for Ethereum (ETHUSD) failed to make much traction above $1,200 and it stalled short of reclaiming levels above $1,250. The high was set at $1,249. It also stopped well short of making it back close to the highs seen over the weekend, at $1279. The drop back in the US equity markets and higher US yields has also now had a negative impact. Ether has just taken a hit back below 1,200 once more. It was pretty apparent earlier today that momentum was stalling and that has now delivered a move to as low as $1,174,75 a few moments ago, as stops were tripped on a move below 1200. ETHUSD is currently trading at 1183