Cryptocurrency News

Ethereum risks ‘bull trap’ after 25% ETH price rebound

06/23/2022

Less than a minute

2022.06.23 20:23

Ethereum risks 'bull trap' after 25% ETH price rebound
Ethereum risks ‘bull trap’ after 25% ETH price rebound

Ethereum’s token Ether (ETH) could be entering a “bull trap” zone after rebounding back above the $1,000 mark from 18-month lows of $885.

The first among these indicators is a “rising wedge,” a classic bearish reversal setup that forms after the price trends upward inside a range defined by two ascending but converging trendlines. The wedge setup gains further confirmation if the trading volume drops alongside the rising prices.

06/23/2022

Less than a minute

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