Ethereum ETH Target Action

Ethereum’s [ETH] latest breakout and what it means for you

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment adviceOver the past week, Ethereum [ETH] has flipped the $1,603-level from resistance to support after a morning star candlestick setup.

Post jumping above its three-month trendline support (white, dashed), the bulls found renewed buying pressure and reclaimed their spot above the 20/50 EMA.The supply zone (green, rectangle) could propel a near-term slowdown as the price action approaches the apex region of its reversal pattern.A potential rebound from the upper band of the Bollinger Bands (BB) could position the alt for a near-term slowdown.

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