After falling nearly 20% in the four weeks to July 5, the ether (ETH) market finally shows signs of seller exhaustion and a potential bullish turnaround.
Early Monday, the native token of the Ethereum blockchain rose over 4% to $3,050, bouncing off crucial support, according to CoinDesk data.
The recovery, coupled with other indicators gauging demand and investment sentiment, suggests the cryptocurrency may have bottomed out ahead of the impending debut of spot ether ETFs in the U.S. this month.
Source:
Coindesk
