Ethereum Stabilizes at $1500

Ethereum gave up the $1600's as we anticipated yesterday. It was making a valiant attempt, but multiple levels of resistance and a lack of momentum resulted in a rejection back to current levels, where we are finding support at $1500, a psychological level. It is likely that we will find a value area soon between $1424 and $1653. The Kovach OBV has slumped, but does appear to have bottomed, which supports the assertion that we will range in a sideways correction until more momentum comes through.