Ethereum analyst warns of ‘clean fakeout’ despite 30% ETH price rebound By Cointelegraph


Ethereum analyst warns of ‘clean fakeout’ despite 30% ETH price rebound

Ethereum’s native token, Ether (ETH), underwent a sharp relief rally after falling to $880, its lowest level in eighteen months, on June 18.

Ether’s price reached above $1,150 this June 19, marking 30%-plus gains in just two days. However, at the beginning of the new weekly session this June 20, the pair hinted at giving up its weekend gains, with its price plunging by almost 9% from the $1,150 high.

ETH/USD 4-hour price chart. Source: PostyXBT/TradingView
Ethereum MVRV Z-Score. Source: Glassnode