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📈 ETH/USD technical analysis | 09-08-2020

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@cryptospa
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Hello, dear members of LeoFinance! LeoFinance!

In the daily chart (1D), ETH/USD is at a very critical level: As seen in the chart above, ETH/USD is at a level equal to the upper line (resistance) of the «Ascending Triangle» that formed in the second half of 2017, and at a level equal to the lower line (support) of the «Descending Triangle» that formed in the first half of 2018. That's why I think this level will serve as a magnet for quite some time.

In my view, it won't be that easy for Ethereum to move away from this level and it may continue to consolidate at approximately current level within the next few weeks.

So, fellow LeoFinancier, what do you expect from ETH/USD in the near future?

p.s. at the time of writing one Ethereum costs $390.60 according to LeoFinance


A few words about me:

Just to let you know: I've been working professionally as a currency analyst for the last 14 years, and as a cryptocurrency analyst for the last 3 years.


Important!

Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency trades, investments and etc.


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