Ether (ETHThe price rises have caused a rollercoaster ride for ), which has experienced an emotional upswing over the last three months. The price peaked at $48,70 on Nov. 10, and $4,780 by Dec. 1. The double top was soon followed by rejection. This led to $490million in short futures contract liquidations within 48 hours.

On Dec. 8, hope returned after Ether began to rise 28.5% in just four days in order to retest $4,400. Shortly thereafter, the downtrend was continued and Ether reached the $2900 level on Jan. 10, the lowest ETH value in 102 consecutive days. The $4,870 high was 40% lower than this low and traders began to wonder if a bearish market has been established.