Legendary Trader Pours Cold Water on Ethereum’s Most Recent Rally

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Alex Dovb­nya

This vet­er­an trad­er is not impressed by Ethereum’s most recent rally 

In a recent Twit­ter thread, Peter Brandt threw cold water on Ethereum’s most recent ral­ly, claim­ing that it is “ques­tion­able.”

The vet­er­an trad­er not­ed that the most recent upturn came on “extreme­ly light vol­ume.” This sug­gests that the Sat­ur­day ral­ly was like­ly a flash in the pan. Oth­er­wise, the uptick would have been based on aggres­sive buy­ing from strong hands, accord­ing to Brandt.

As report­ed by U.Today, the sec­ond-largest cryp­tocur­ren­cy man­aged to spike above the $1,400 lev­el for the first time in more than a month.

Ethereum vast­ly out­per­formed Bit­coin, with the ETH/BTC pair spik­ing to the high­est lev­el since late May.

The sec­ond-largest coin is cur­rent­ly chang­ing hands at $21,179 on the Binance exchange.



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