Ethereum Bears Have the Upper Hand as ETH Trades Within Crucial Range

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Ethereum has been forming an incredibly close correlation to Bitcoin throughout the past couple of weeks It is attempting to break this correlation now, but bulls are flashing some signs of weakness, especially while looking towards its BTC trading pair Analysts are now noting that ETH is trading within a crucial range that could determine its future The upper boundary of this range sits just a hair above where it is currently trading at, but it has already been rejected here This comes as one analyst notes that ETH/BTC is showing signs of forming a local top The aggregated cryptocurrency market has been catching some immense momentum throughout the past several days and weeks, but this has not provided Ethereum with any tailwind. The crypto still remains highly correlated to Bitcoin, and the growth of the DeFi sector hasn’t even had any sway over its price action. ETH is now…

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