Determining the Direction Of Ethereum’s Trend

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In Brief
  • ETH/BTC has broken out from a descending resistance line.

  • There is resistance and support at ₿0.0275 and ₿0.0253, respectively.

  • The weekly chart shows a failed breakout.

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The Ethereum (ETH) price broke out from a descending resistance line at the end of May but has failed to increase substantially since. The direction of the trend for Ethereum seems unclear, and more confirmation is required to determine the trend. Consolidation Range On May 29, the Ethereum price broke out from a descending resistance line that had previously been in place since
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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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