What Historical Trends Hint for Ethereum Price Behavior in May?

Amid the broader market correction, the Ethereum coin witnessed a three-day losing streak with its price falling from $3286 to $2888 accounting for 12%. The recent fall backed by increasing volume hints at the sellers’ conviction to lead the asset value lower as BTC goes Sub-60K. However, an analysis of the daily chart shows the correction still holds above a healthy retracement level and keeps the bullish pattern intact for a potential reversal.

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