Ethereum is “Fighting for Its Life” as Bulls Struggle to Defend Critical Support Level

Ethereum is “Fighting for Its Life” as Bulls Struggle to Defend Critical Support Level


Ethereum is currently in the process of rebounding from its daily lows that were set just a handful of hours ago The cryptocurrency has been facing heightened selling pressure as of late, struggling to build momentum as it remains below $370 One analyst is now stating that the cryptocurrency is “fighting for its life” as it trades right around a crucial support level Bulls and bears have largely been at an impasse when it comes to ETH, which is surprising considering the strength Bitcoin has seen in recent weeks It is important to note that, so far, Ethereum has avoided breaking below its critical “line in the sand” support

Ethereum has been struggling to keep up with Bitcoin in recent days, with its price being dragged lower by the headwinds created by the ongoing descent of the DeFi market sector.

This weakness led it as low as the $350 overnight, which is the point at which bulls finally stepped

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