Ethereum continues in its downwards channel begun after numerous failed attempts to reach and break $420.
If the trend holds, expect it to maintain it until early August where numerous major support levels could be tested.
Levels to watch the next 12-24 hours:
-$231: Overhead resistance
-$225: Downwards channel top trend line
-$206: Has acted as resistance the last few days. It has recently broken above it but currently is below. Let's see if it can reclaim and hold this.
-$195: Current Price
-$175: Major source of support. Last level battled over before the last big run up to $420.
-$168: Downwards channel bottom line
thank you for the up date
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My pleasure! Thanks for taking the time to look and comment.
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I think Ethereum still needs some more time to correct its hype move, but it is long term a great project!!!
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Yeah, it really just moon shot up without many attempts at consolidating, etc. It needs some time to cool off from all the hot money and hype. Stay tuned!
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