Ethereum Struggles to Reach a Close Above $400

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In Brief
  • Ethereum has broken out from the $366 resistance level. The next resistance areas are found at $455 and $544.

  • The daily time-frame shows considerable weakness in the form of bearish divergences and a bearish pattern.

  • Ethereum has possibly completed a five wave impulsive upward move.

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The Ethereum (ETH) price has been declining since reaching a high of $416 on August 2. While it has made several attempts to move upwards, they've been generally weak, creating multiple bearish divergences. It's possible that ETH has reached a top and a corrective period will soon ensue. Long-Term Resistance Levels The Ethereum price has been increasing since March 13. During the week
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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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