Ethereum Seeks to Break Out Above Crucial Resistance

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In Brief
  • Ethereum is in the process of breaking out from a descending resistance line near ₿0.0259.

  • The daily RSI has generated hidden bearish divergence.

  • The price has broken out from a short-term ascending channel.

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The Ethereum (ETH) price is trading inside an important resistance area. A breakout above this level could trigger a rapid rally. Note: This article will focus on the ETH/BTC pair. For the ETH/USD pair, click here. The Ethereum price has possibly been following a descending resistance line since January 2019. The line has been validated four times until now, and the price is currently
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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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