Markets
Ether Bears Hit a Brick Wall as Price Collides with Bull Market Trendline: Technical Analysis
The bears’ inability to penetrate the market’s uptrend line since Monday suggests they may need to back off a bit and allow a price rebound before attempting to once again extend recent declines. The native token of the Ethereum blockchain has fallen more than 15% to $3,000 from a high of nearly $4,100 two months ago, according to CoinDesk data. The CoinDesk 20 Index (CD20), a measure of the broader crypto market, lost 17% during the same period.