Ethereum and the aggregated crypto markets surged yesterday just prior to Bitcoin incurring a sudden influx of selling pressure that sent the markets reeling down. Despite this, ETH is still in a clear uptrend, and improving fundamental conditions could help it surge higher.<\/p>\n
Additionally, Ethereum\u2019s transaction volume is surging as of late, which may be one improving fundamental aspect of the cryptocurrency that could help incubate a possible \u201c52-day bull market\u201d that one analyst is anticipating.<\/p>\n
At the time of writing, Ethereum<\/a> is trading down just less than 3% at its current price of $298.8, which is down from its daily highs of $320 that were set yesterday.<\/p>\n Although Ethereum\u2019s recent drop is by no means marginal, it is important to remember that the cryptocurrency is still up from its one-month lows of $230 and is up significantly from its three-month lows of $140.<\/p>\n ETH<\/a> is now approaching $280, which is a price point at which it previously found support after falling from its weekly highs of $360 that were set earlier this week.<\/p>\n Importantly, through the course of Ethereum\u2019s recent bull run, its transaction volume<\/a> has climbed significantly, running from February lows of 380,000 to highs of over 1,000,000 this past Friday.<\/p>\n The increasing transaction volume does appear to be emblematic of improving fundamental conditions, which may signal that the cryptocurrency\u2019s price action in the foreseeable future which reflect this.<\/p>\n Assuming that the improving fundamental conditions do actually translate into positive price action in the near-future, analysts are now noting that Ethereum may soon incur a multi-month bull run.<\/p>\n Mitoshi Kaku, a popular cryptocurrency analyst on Twitter, spoke about this possibility in a recent tweet, explaining that a bullish technical formation that is likely to form in the coming week could spark a massive rally.<\/p>\n \u201cGann pivot for $ETH (BTC) this week. – Could potentially have a 52 day bull run,\u201d he noted.<\/p><\/blockquote>\n Gann pivot for $ETH<\/a> (BTC) this week. \ud83d\udc40 – Could potentially have a 52 day bull run. pic.twitter.com\/biR9vY5unj<\/a><\/p>\n — Joe Mitoshi \ud83e\uddd1\u200d\ud83d\ude80 (@CryptoSays) June 30, 2019<\/a><\/p><\/blockquote>\nCould ETH Soon Have a 52-Day Bull Run?<\/strong><\/h2>\n
\n