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26.10.202114:25 Forex Analysis & Reviews: Short-term analysis on Ethereum.

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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.

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.

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2024

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