Has Ethereum found its bottom? Data paints an optimistic picture, but that’s not stopping the bears.
Similarly, in November 2022, Ether's modest recovery post-FTX"black swan" coincides with growing expectations of theMoreover, independent market analyst, Cold Blood Shiller,
a"clear breakout point" on Ethereum's daily chart, namely its Awesome Oscillator and Relative Strength Index . Both indicators appear to have been flipping bullish recently, as shown below.Bears anticipate ETH losing another 50% Nevertheless, Ether is currently down 75% from its record in November 2021 with the market seeing multiple bull traps since.the possible formation of a similar bull trap in the current miniuptrend, which he argues risks exhaustion near a multi-month descending resistance trendline.A decisive pullback from the descending trendline would push Ether toward $700, which may be a"possible bottom," Roy explains.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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