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Ethereum 'March 2020' fractal hints at price bottom — But ETH bears predict 50% crash

Published 12/06/2022, 10:44 AM
Updated 12/06/2022, 12:40 PM
© Reuters
ETH/USD
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Ethereum's native token, Ether (ETH), eyes a strong bullish reversal after losing 25% from its November high of $1,675, according to a bottom fractal spotted by independent market analyst Wolf.

Wolf compares Ethereum's multi-month downtrend between May 2018 and March 2020 with a similar but relatively shorter correction after July 2022. If the move repeats, that means the price of Ether has bottomed in November 2022, according to the analyst, as shown below.

ETH/USD 2019-20 and 2022 price performance comparison. Source: TradingView/Wolf
ETH/USD daily price chart. Source: TradingView/Cold Blood Shiller
ETH/USD daily price chart. Source: TradingView/Aditya Siddhartha Roy
ETH/USD three-day price chart. Source: TradingView

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