Ether still struggling

It was noted here early yesterday morning, that Ethereum (ETHUSD) had rejected an earlier attempt to hold a rebound above $2k during the Asian session. The subsequent drop saw it spend the most of the rest of the day traversing either side of $1,950. Upon close inspection of the chart over the past two days, the character of that price action has delivered a series of lower short term highs. That is usually not a positive indicator and might help explain the price action so far today. The range seen so far has been covered 1927.60 to 1969.90 and it is right on, or near its session lows as this update is being typed. That kind of endorses what was just said a moment ago. There may be more to add later, but meantime Ether is currently trading at 1932.80