Markets
Ether Bears Hit a Wall as Price Collides with Bull Market Trendline: Technical Analysis
The bears’ failure to penetrate the bull market trend line since Monday suggests they may need to step back and allow prices to rebound before making another attempt to extend recent declines. According to CoinDesk data, the native token of the Ethereum blockchain fell more than 15% to $3,000 from highs of around $4,100 two months ago. The CoinDesk 20 Index (CD20), a measure of the broader cryptocurrency market, lost 17% over the same period.