Ethereum’s Macro Outlook is “Ultra Bullish” Despite Recent Turbulence

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Ethereum has been closely tracking Bitcoin’s price action throughout the past couple of days This has caused it to see a notable selloff, with bulls and bears now reaching an impasse as it trades just above its crucial $380 support level A continued defense of this level is key if bulls want to fuel a move higher in the near-term One analyst is now noting that the cryptocurrency’s macro outlook is ultra-bullish despite the recent selloff That being said, he also notes that a bout of choppy trading lies ahead, which could seriously damage short-term trend traders Ethereum and most other digital assets have been consolidating above their respective support levels following the recent selloff. This selloff came about due to Bitcoin’s inability to break above its $13,800 resistance, which is a level that has held strong throughout the past few days and weeks. If this level continues halting its…

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