Ethereum Recovers from the “Brink of Death” as Bulls Ignite Strong Recovery

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Ethereum saw a strong and grave selloff overnight that drove its price down to lows of $585 This is around the price at which the cryptocurrency was able to find some strong support that gave rise to it forming what has since resulted in a “V-shaped” recovery Where it trends in the mid-term should depend largely on the follow-through of this recovery, as a strong rebound from here could confirm that these lows will mark a long-term bottom Any rejection at $620 – which has been a resistance level over the past few days – could temper its technical strength One analyst is now noting that the overnight decline put the crypto in a precarious position, with ETH almost invalidating its bull trend Ethereum and Bitcoin have both seen some rocky price action as of late, but ETH seems to be more subjected to seeing drastic moves lower, with traders…

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