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Analysis: Ethereum is trying to form a double-bottom pattern.

MeNews
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ME News message: On July 15 (UTC+8), according to BIT analysis, Ethereum is trying to form a double-bottom pattern, providing traders with a relatively clear technical support level. Although the fundamentals and market structure still suggest investors should remain cautious, as long as Ethereum holds its recent low, this pattern implies an improvement in the technical outlook. At the same time, inflation data that came in below expectations has also improved the macro environment for risk assets. After recording net outflows for eight consecutive months, Ethereum ETFs may turn to net inflows for the first time this month, which is expected to give a boost to institutional demand, even if the extent of improvement may still be limited. (Source: PANews)
ETH5.74%
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