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FX.co ★ Short-term Ethereum technical analysis.

Short-term Ethereum technical analysis.

Short-term Ethereum technical analysis.

Black lines- bullish short-term channel

In our analysis on Ethereum yesterday we noted that price was pulling back but remained inside the short-term bullish channel. Price respected the lower channel boundary and is bouncing higher. Price formed a higher low at $1,559. This is now important short-term support. Bulls do not want to see price break below this level. This would be a bearish sign. As long as price respects the channel boundaries, Ethereum could produce a new higher high towards $1,850-$1,900.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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