Ethereum’s Near-Term Fate May Rely on This One Surprising News Event

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Ethereum’s mid-term outlook has been foggy over the past few days and weeks, with buyers and sellers being unable to gain control of its trend The cryptocurrency is still trading squarely between $340 and $350, with it facing some heightened selling pressure earlier on in the day This selling pressure caused it to dip from highs of $355 to lows of $345 It remains unclear as to what may have caused this to occur One analyst is now noting that one key political event could determine Ethereum’s near-term fate Ethereum and the entire cryptocurrency market lack momentum in either direction. Both bulls and bears have been trying to gain control of its near-term outlook, which has largely resulted in it seeing a bout of consolidation. ETH did incur some turbulence earlier today independent from the rest of the market, which compounded its weakness and sparked inflows of selling pressure. Bulls…

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