Analysts Fear Further Downside Despite Ethereum’s Recovery from Overnight Dip

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Ethereum has seen some immense bullishness throughout the past 24-hours, with the crypto breaking free from its range-bound trading in the $700 region and rocketing past $1,000 Where the entire market trends in the mid-term may depend largely on whether or not Bitcoin can maintain its foothold in the lower-$30,000 region If the crypto can hold above here and consolidate, it could provide ETH and other altcoins with further room to rally in the days and weeks ahead One trader is noting that Ethereum may be in a precarious position at the present moment He is pointing to high predicted funding as a reason why it may see further downside It also appears that it was rejected from its weekly supply EQ overnight Ethereum has gained some parabolic momentum over the past could of days, which has put a firm end to the phase of consolidation and underperformance against BTC…

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