Ethereum Attempts Recovery, Still Weak

Ethereum saw meager support and the price action has trended upward slightly. Our new level at $1280 has held nicely, but the range has consolidated immensely, and there is very little momentum in the markets. If we are somehow able to catch a bid then $1341 is the next target, with $1424 an absolute ceiling for now. We feel we may need to retest $1235, if not lower, before buyers are inspired to come to the table. After that, there is a vacuum zone to $1100 which is a likely floor price for now.