This Fundamental Trend May Negate Ethereum’s Covert Signs of Weakness

After incurring an incredibly intense uptrend that led Ethereum to highs of over $175 yesterday, ETH has lost some of its momentum and has declined below $170, with this drop coming about concurrently with that seen by Bitcoin overnight. In the near-term, it does appear that ETH’s bulls may have slightly overextended themselves, as the crypto is currently flashing some signs of technical weakness. In spite of this, it is important to note that there is one fundamental factor that could bolster Ethereum in the days and weeks ahead, with its continually rising futures trading volume being a sign of vitality amongst investors. Ethereum Inches Lower as Technical Strength Flashes Some Bearish Signs At the time of writing, Ethereum is trading down just over 1% at its current price of $168, which marks a notable decline from daily highs of over $175 that were set at the peak of the recent rally. ETH’s drop from these highs has come in tandem with that seen by Bitcoin, which has fallen from highs of $7,500 to its current position within the lower-$7,000 region. Read More...

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