Ether steps back from further weekend gains

On Friday, Ethereum (ETHUSD) did eventually make a move above the noted resistance level at $1,200. However, it did not extend that far above there, stalling at around 1,225. A further rebound on Saturday extended the upside break to around 1,278 before backing off once more. Earlier today it dipped briefly below 1,200 once more, but it has rebounded again since the start of the Asian session. Once again Ether will be playing close attention to the price action that unfolds over in BTC and right now the lead coin appears to be struggling for traction, although that one is also off its lowest levels of the session thus far. Despite rebounding in recent days, the current price of Ether is not at all conclusive to further longer term upside. There will be more to add on this one later today. ETHUSD is currently trading at 1223