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The Ethereum price now varied low after making a new monthly high on Tuesday. This increase had come as a much needed relief for the cryptomarket, which had seen the ETH prize struggling while Bitcoin flourished. However, the Bullish Breakout did not last long, because Bears have again taken control and sellers now dominate. Given this recent trend, it is possible that the Ethereum price has seen the end of the price decrease.
Ethereum lower lows have a disturbing trend
Crypto analyst Gianni Pichichero has explained What could be going on with the Ethereum price and why the current trend can be worried. This is due to the various processes and how the Altcoin has been moved since the beginning of the week, starting with the bullish rise on Monday to the Bearish reversing that surprised the market.
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Gianni explained that the opening range for the week had set the current monthly high before he broke low. This showed an entry of major players On the market because the Ethereum price was quickly pushed to touch the $ 2,700 mark for the first time in more than a month. This had set a bullish tone for the week, in the next day, because Tuesday also showed recovery strength,
The next day, Tuesday, the Ethereum price re -pumped and placed a higher high than Monday, which suggests that there was a continuation in the game. The day was also closed in the green when Eth Bulls remained dominant during the trading day.
By Wednesday there had been a turn in the market, while the previous days were dominated by Bullish Rallies, consolidation was the order of the day. This brought the Ethereum price back in the opening range high of the week and then marked the first red closure of the week.
This first red close, Gianni explains, was a bearish signal. It initially did not indicate that the Ethereum -Price would continue to crash. However, it showed that the bullishness that started on Monday could finally be over. Then, by Thursday, it was already a complete reversal when the market tested the lows of the previous day. The red close on Thursday was just as bearish as the market struck the expectation of Beerarish News.
Related Reading: Will Bitcoin price Bullish or Bearish? Crypto analyst reveals critical levels to watch
The formation of lower lows on both days has been disturbing and the analyst outlined in the graph that there could be a possible demolition of the price. In this case, the Ethereum price could again deposit below $ 2,400, so that a remarkable number of profit is collected in recent weeks.

While this unfolds, Gianni suggests that there would be none Crazy movementsBut that focus should be on the search for opportunities to sell high on the current market. “I will be looking for every sale of high opportunities after the news, reinforced with Bearish price action, as triple tops, double tops and any form of reversal patterns in the most recent high in place,” he said.
Featured image of dall.e, graph of tradingview.com