Onchain and technical data hint that $1,800 may have been the macro price bottom for Ether. Is there sufficient bullish momentum for a rally to $3,000?
Ether’s (ETH) recent sell-off was stopped at $1,800, as bulls aggressively defended the level. Ether’s rebound above $2,100, along with on-chain and technical data, suggests that traders will hold the price above $2,000 for the short-term.
Key takeaways:
Ether’s profitability metrics drop to levels that have historically marked local bottoms.
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