Ethereum 'March 2020' fractal hints at price bottom — But ETH bears predict 50% crash
Ethereum market analysts desperately search for the bottom but ETH price technicals aren't excluding further downside below $700. Ethereum's native token, Ether (ETH), eyes a strong bullish reversal after losing 25% from its November high of $1,675, according to a bottom fractal spotted by independent market analyst Wolf. Can Ethereum price co its March 2020 fractal? Wolf compares Ethereum's multi-month downtrend between May 2018 and March 2020 with a similar but relatively shorter correction after July 2022. If the move repeats, that means the price of Ether has bottom ed in November 2022, according to the analyst, as shown below. ETH/USD 2019-20 and 2022 price performance comparison. Source: TradingView/Wolf Wolf draws cues from March 2020' s Ethereum price crash triggered by the Covid-19 pandemic — a black swan event. Similarly, ETH price was pushed down in November 2022 due to another black swan — the collapse of cryptocurrency exchange FTX. But ETH/USD rebo...