Ether still struggling for traction

Since the last update here, Ethereum (ETHUSD) has not been able to make any headway. The second largest cryptocurrency tried to rebound above 1,100 yesterday afternoon, but that rebound stalled ahead of 1,125 and it later fell back into the wider US market close, dropping below 1,050. It has rebound a little further today, from an earlier Asian low at 1,044, but it is yet to reclaim any levels above 1,100. As noted here a few times already this week, the fundamental outlook is not good and it is clear to see there is much trepidation on this one still. That is hardly surprising given that it has had the stuffing knocked out of it over the past couple of weeks. The range seen to far today has been 1044.30 to 1096.75. ETHUSD is currently trading at 1086