Ethereum analyst warns of 'clean fakeout' despite 30% ETH price rebound

Ethereum analyst warns of 'clean fakeout' despite 30% ETH price rebound


Ethereum’s native token, Ether (ETH), underwent a sharp relief rally after falling to $880, its lowest level in eighteen months, on June 18.

ETH price regains 30% in two days

Ether’s price reached above $1,150 this June 19, marking 30%-plus gains in just two days. However, at the beginning of the new weekly session this June 20, the ETH/USD pair hinted at giving up its weekend gains, with its price plunging by almost 9% from the $1,150 high. 

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PostyXBT, an independent market analyst, told his 79,800 followers to be careful about the latest ETH price rally, noting that the move “would make for a clean fakeout.” Excerpts from his statement:

“It looks like an opportunity to flip long towards $1,250, but $BTC still hasn’t reclaimed it’s like-for-like level.”ETH/USD 4-hour

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