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Ethereum Another Breakout Attempt!

Ethereum dropped a little in the short term but it could still resume its rebound. It has decreased to retest 2,040.62 support and now it could challenge the downtrend line again.

ETH/USD has decreased as the BTC/USD slipped lower as well. Bitcoin's potential growth after the current drop could help Ethereum to increase. Techncially, we need confirmation before considering going long on this crypto.

ETH/USD Bulls Are Still In The Game!


ETH/USD has registered only a false breakout through the downtrend line and now it has decreased to retest 2,040.62. It has rebounded from this level and now it could reach the downtrend line again.

Registering a valid breakout, jumping, and stabilizing above this dynamic resistance could signal a potential growth ahead.

The ascending pitchfork's lower median line (lml) is seen as a strong dynamic support. It could still increase as long as it stays above this line.


Ethereum is still under pressure after failing to stabilize above the downtrend line. Jumping above this dynamic resistance could really bring us a good long opportunity with a potential upside target at the median line (ml).

The material has been provided by InstaForex Company -