Ethereum (ETHUSD) has another drop below $4000 in sight

Yesterday the rebound in Ethereum (ETHUSD) stalled ahead of $4500 as was noted here in morning update. The subsequent drop back saw it take out a number of levels it had surpassed on the way up. Eventually that led it back to below 4,100 just ahead of the wider US market close as it also followed BTC lower at the same time. Today it has made no real progress either and a short while ago it came closer to dropping back below 4000 once more. This reversal does not rest well ahead of the weekend either. It looks like the market is extremely wary of another weekend rout, hence the pull back since this time yesterday morning. There is also the risk factor to assess as well and with the US CPI data very much in focus later on, that could have an impact across all risk assets too. The low seen so far today has been set at $4,042 and it it not that far above that right now, currently trading at $4,075