Ethereum price has fallen into the $1,600 barrier after tagging the $1,800 liquidity zone. ETH price could fall once more towards $1,300 and lower due to the recent price action. The uptrend scenario depends on the June 18 swing low at $881 holding as support.
Bitcoin price has fallen 12% in one day upon the release of the Consumer Price Index. The bears have shown an uptick in volume amidst the decline. The uptrend scenario could be invalidated if the bears tag the July 7 swing low at $18,510.
Ethereum price is giving up on its bid for a pre-Merge rally amid concerns over rising inflation levels. The leading smart contracts token exchanges hands slightly above $1,600, with losses expected to close below the same level on Tuesday.
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