Here’s Why Ethereum Could Return to Last Week’s Lows at $315

Here’s Why Ethereum Could Return to Last Week’s Lows at $315

Ethereum has surged over the past few days after bottoming at $310-315 early last week. The leading cryptocurrency has been benefiting from a recovery in both legacy markets and Bitcoin, which both have pushed higher since the lows they established last week.

As of the time of this article’s writing, ETH trades for $380 — which is a price over 20% higher than the aforementioned lows.

The cryptocurrency is up 5% in the past 24 hours, having pushed higher from a strong drop on Sunday morning. The coin remains in a decent spot from a derivatives positioning standpoint, with funding rates mostly neutral.

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Still, an analyst thinks that Ethereum could be primed to correct back towards the low in the near future. Here’s why this analyst thinks this will be the case.

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Ethereum’s ongoing rally hasn’t convinced all

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