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Ethereum Testing Prior Resistance After Running Near ATH

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@scaredycatguide
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The price of Ethereum the 4,000 area prior pivot top to come just shy of the all time high.

Since then we got a reversal candle and have seen price trade lower the past 2 days down the this 4,000 area.

Essentially it is testing this level as a potential support after cracking it as a resistance point.

Ethereum Digesting Gains...

The good...

Is that price not only pulled back to this prior resistance level to test but also returned to the 10 day moving average.

Thus, the price action is not oversold in the short-term and the higher highs and higher lows are still intact.

If price holds the 4,000 area we should see an easy push to new ATHs, otherwise the next down side level is that last consolidation at 3,700.

Posted Using LeoFinance Beta