Ethereum’s Technical Outlook Strengthens as Market-Wide Recovery Begins

Ethereum and the entire crypto market have witnessed some of the most intense turbulence seen in weeks over the past couple of days. Bitcoin’s rejection at its all-time highs, coupled with fear regarding a new wave of regulations, sent the entire market reeling lower, with ETH plunging from its recent $620 highs to lows of $490.

At the time of writing, Ethereum is trading up over 4% at its current price of $539, which marks a massive rebound from its multi-day lows of $490 set at the bottom of the recent selloff. One trader explained that Ethereum is now looking technically strong and may be well-positioned to see further upside in the days and weeks ahead.

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