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HomeNewsEther with top formation? From Investing.com

Ether with top formation? From Investing.com




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Ethereum Chart (daily)

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Investing.com – After yesterday’s heavy losses, it came this morning at to a reassurance. This can be linked to a tentative stabilization in the form of the hour candle at 10 o’clock, which kicked off a $ 140 recovery. It remains to be seen whether this development can continue. After all, Tuesday’s bout of weakness left its mark on the chart.

Above all, however, the erroneous breakout across the resistance barrier from the 78.6% Fibonacci retracement and an internal trend line at $ 3,800 / $ 3,750 are fueling concerns that the most recent movement impulse could be a larger top formation, but only at would be confirmed on a drop below $ 2,977 / $ 2,950.

A fall under this support serves as a catalyst for even significantly lower prices.

So the bottom line is that the all-clear cannot yet be given. A stress test of the psychologically important $ 3,000 mark should therefore not be ruled out, especially since the technical indicators in the form of the MACD and RSI have generated fresh sell signals.

To remove the risk of a larger top education out of the way, Ether should therefore stay above the important support at $ 3,330 to 3,350.

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Note: This article does not constitute investment advice or a solicitation to buy or sell assets. The article also does not purport to predict the development of the Ethereum price. It is only a subsequent comment on the Ether development, the Ethereum investors about the latest crypto news and the technical starting position of the should inform.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy / sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
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