Ethereum price at risk of a pullback despite solid fundamentals
Ethereum price rally lost momentum this week, moving from a high of $3,387 on January 13 to the current $3,288 as concerns about the Market Structure Bill rose.
Summary
- ETH price has pulled back in the past few days as demand for cryptocurrencies waned.
- Ethereum has encouraging fundamentals, including higher network activity.
- The token has formed a rising wedge chart pattern on the daily chart.
Ethereum (ETH) token has dropped by 33% from its highest level in August last year, mirroring the performance of the broader crypto market.
The token has pulled back despite its strong fundamentals. For example, data compiled by SoSoValue shows that spot Ethereum ETFs have…
