Ether (ETH) fell to $2,800 on Monday, failing to hold $3,000 as surging expectations of a Bank of Japan rate hike unnerved the market. Meanwhile, technicals and onchain data sent mixed signals on Ether’s ability to buck the downtrend.
Key points:
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Ethereum price fell 5.5% on Monday, dropping below $3,000 again amid Bank of Japan rate-hike fears.
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Bulls need a sustained break above $3,200 for a strong recovery, while breaching $2,800 would invalidate the macro bullish trend.
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Ether’s MVRV…
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