After 16% drop, traders target $250 Ethereum price — Here’s 3 reasons why
cointelegraph.com
Three reasons are likely behind Ether’s poor performance: a technical rejection, a slight deflation of the Decentralized Finance (DeFi) bull run and weakening momentum. Ether was already facing a clear rejection at a key resistance level before Bitcoin even started to pull back sharply.
In the past three months the Ethereum network has thrived as user activity skyrocketed and various on-chain metrics demonstrated significant demand for Ether. Despite this, over the long term, on-chain analysts remain generally optimistic about the trend of Ether and the Ethereum network.
Read in Full: cointelegraph.com
