Ethereum's bearish U-turn? ETH price momentum fades after $1.6K rejection

Cointelegraph

Published Jul 25, 2022 09:01AM ET

Updated Jul 25, 2022 03:20PM ET

Ethereum's native token Ether (ETH) tumbled on July 26, reducing hopes of an extended price recovery. The ETH/USD pair dropped by roughly 5%, followed by a modest rebound to over $1,550.

These overnight moves liquidated over $80 million worth of Ether positions in the last 24 hours, data from CoinGlass reveals.

ETH/USD hourly price chart. Source: TradingView
ETH/USD four-hour price chart featuring ascending channel setup. Source: TradingView
ETH/USD four-hour price chart featuring bearish divergence. Source: TradingView

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