Short-term analysis on Ethereum.


Ethereum continues making higher highs and higher lows. Price remains inside the bullish channel it is in since mid September. Price has reached previous all time highs around $4,200. There is a warning signal by the RSI as the price does not make new highs as the Ethereum price does.

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Blue lines- bullish channel

Support is found at $4,100 and next at $3,850. The lower channel boundary is at $3,850. Bulls will remain in control of the trend as long as this level remains intact. So far there is no sign of a reversal. Only a warning that the bullish trend is weakening. This should be considered seriously and traders should be prepared for a reversal.




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Alexandros Yfantis
Analytical expert of InstaForex
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