Why An Analyst Isn’t Convinced of Ethereum’s Price Action Despite Rally to $375


Ethereum has pressed higher after falling as low as $310-315 just days ago. The coin now trades for $370 and traded as high as $375-378 just hours ago. The coin is not entirely bullish, though, despite the recovery from the aforementioned lows. Analysts remain bullish on Ethereum from a longer-term perspective. They cite trends in decentralized finance and what effect that will have on ETH. Here’s Why Ethereum Isn’t Bullish… Yet Edward “Teddy” Cleps, a prominent crypto trader, thinks Ethereum isn’t in a bullish state just yet. The analyst shared the chart below, noting that the recent rally may just constitute a bearish retest as opposed to a bullish breakout : “Price retested previous support as resistance – currently looks like a rejection. Vital for bulls to push back above for lambo season.” Chart of ETH's price action over the past few months with analysis by crypto trader Edward "Teddy"…

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