Is ETH’s Rally Over? The Key Indicator That Called Ethereum’s Run Just Flipped Bearish
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The largest altcoin by market cap rallied from just over $1,500 to nearly $2,000 to hit a multi-month peak but stalled at the $2,000 psychological resistance. Technical analysis shows the indicator that predicted the rebound has flipped bearish, signaling increased short-term downside risk for the token and muted market momentum in crypto.
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The largest altcoin by market cap rode the recent minor bullish wave in the cryptocurrency market, surging from just over $1,500 to almost $2,000 to mark a multi-month peak.
However, it stalled there as it couldn’t breach that psychological level. Moreover, the same technical tool that predicted the substantial revival has now flipped bearish.
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