Here’s Why Ethereum Might Plunge to $340 Before Ending Its Bear Trend

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Ethereum’s price action has largely been in sync with that of Bitcoin and the entire crypto market Bulls and bears have both attempted to control its mid-term trend, but this has just resulted in a prolonged bout of sideways trading One analyst believes that the market might see some slightly further selling pressure in the near-term, which could slow its ascent and cause it to reel lower He is specifically setting his sights on a move to $340, noting that this is a strong support level that could slow its descent That being said, he is also pointing to a few external factors that all indicate downside is imminent for the entire crypto market Ethereum’s price action has been much like Bitcoin’s as of late, offering few insights into its short-term strength as both bulls and bears struggle. Today, ETH has incurred some slight upwards momentum that certainly bodes well…

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