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Ethereum Outlook and new Targets

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Ethereum on the way to higher goals

In this small overview, I have consulted the Fib Extension and identified new targets for the top side. Ethereum is very bullish at the moment. The corrections are very flat at the moment and that is a good sign for rising prices.

The major support at 1548$ should not be undercut, because many hedges are likely to be located here. Another support offers the MA 34 at 1837$. In the past, this moving average often worked very well. A possible setup would be a buy order on this mark and a sl below the 1548$ mark. As long as the upward trend is intact, upward movements are likely.

The 12 hour chart

The last formation of the shoulder head shoulder is still clearly visible here. Now we see a three-wave correction and it could be finished now. If we see more waves on the underside, then the correction is probably extended and there are more favorable entry prices.

Source: (Guidants/Godmode Trader) & JFD Broker & Binance

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I am not a financial advisor nor is any content in this article presented
as financial advice. Never invest more
than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

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