price action turned bullish on 28 June, giving investors hope for a recovery from their past losses. Unfortunately, this bullish trend didn’t last for long, as the coin recorded a price correction soon after. This led to both its weekly and daily charts flashing red.After the aforementioned hike in price, ETH’s bears stepped up again and pushed the altcoin’s price down by more than 3%. At the time of writing, the king of altcoins was trading at $3,391.
Interestingly, a similar pattern had emerged earlier in March, only to break out in May. This allowed the altcoin to hit $3.89k on the charts. However, since ETH got rejected this time, the chances of history repeating itself might be slim.AMBCrypto then took a closer look at Ethereum’s current state to see whether it would fail to break out of the bullish pattern.