Despite Surging 15% From Lows, Ethereum Still Isn’t Bullish

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On the weekend, Ethereum plunged lower as the altcoin market bled out. At the local lows, the price of the leading altcoin hit $310-315, the lowest price in many weeks. This meant that from the $490 year-to-date highs, the cryptocurrency had retraced over 35%. Since those lows, ETH has bounced by over 15%, reaching $360 on Thursday morning. Ethereum still isn’t in a bullish state despite the rally. Analysts see the cryptocurrency rejecting $380 in the near future due to technical resistances in that region. ETH’s price action may end up following that of the stock market, as has Bitcoin and other markets. The stock market is in an uncertain position due to uncertainty about stimulus and the election. Ethereum Still Isn’t Bullish, Even After Rally Since the lows around $310, Ethereum has undergone a healthy bounce. According to TradingView, the cryptocurrency reached a high of $360 on Thursday morning…

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