• The Ethereum price has broken down from an ascending support line.
  • It has found support above its 200-day moving average (MA).
  • The $207 area is a confluence of the descending resistance line and 0.786 Fib level.
The Ethereum price has been decreasing under a descending resistance line since April 30, when it reached a high of $227. The downturn really began to accelerate on May 8. On May 10, the Ethereum price broke down from an ascending support line that it had been following since the bottom on March 10. Since then, it has validated this level as resistance. Well-known cryptocurrency
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Valdrin Tahiri

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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