Crypto markets remain volatile and a handful of seasoned traders believe that the bearish trend will continue as long as stock markets are chasing new lows.
Most investors would agree that crypto is now in a bear market and the current price action for Bitcoin (BTC) and Ethereum (ETH) suggests that capitulation and consolidation are a ways away.
Data from Cointelegraph Markets Pro and TradingView shows that Ether still struggles to reclaim the $2,000 level as support and this zone has been a notable support and resistance since February 2021.
Ether needs a monthly close above $2,250
Insight into the major support level Ether needs to clear by the monthly close to regain a bullish outlook was touched on by market analyst and pseudonymous Twitter user Rekt Capital, who posted the following chart indicating the area near $2,269 is a key level.
Rekt Capital said,
“ETH is climbing closer and closer towards the…
