A Red Bull racing car does not keep its foot on the accelerator throughout the sprint, and Ethereum’s rebound track works the same way. A few days ago,
$ETH followed the market trend and posted a solid rally, prompting many traders to go long on the momentum and believe that a new bullish cycle had begun.
Judging from the market conditions over the past few days, this rally was more of a recovery after being deeply oversold, with no signs of sustained inflows from long-term funds. After the price reached elevated levels, a large number of short-term bulls began taking profits and exiting, whi