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ETH Corrects Lower, $2,000 Holds The Key
There was an upside break in Ethereum above the $2,400 level against the US Dollar. However, ETH failed to test the $2,550 resistance zone. A high was formed near $2,548 before the price started a fresh decline. The price broke many supports near the $2,300 and $2,275 levels. There was also a break below a major contracting triangle with support near $2,275 on the 4-hours chart. It is currently trading well below $2,275 and the 55 simple moving average (4-hours). ETH tested the $2,000 support and started a recovery wave. It climbed above the $2,150 and $2,200 levels. There was a break above the 23.6% Fib retracement ... (full story)
