
The bearish setup positions Ethereum price to extend the decline toward $2,000.
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The second-largest cryptocurrency reaches its best levels against Bitcoin and the dollar in more than three months.
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An on-chain indicator, notorious for accurately predicting Ether tops, returns amid the ongoing price rally.
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One trader spotted the fractal, which employs three classic technical indicators to predict an upside trend for Ethereum.
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Technical setups, coupled with optimistic fundamentals, project Ethereum, would rise sharply against Bitcoin in the coming weeks.
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The world’s second-largest cryptocurrency also surged in tandem with positively correlated Bitcoin, the flagship digital asset.
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Total value locked across decentralized finance-enabled smart contracts has dipped 35% from its peak.
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A confluence of technical and fundamental indicators suggests that Ethereum could maintain its monthly bullish outlook despite the latest price correction.
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