Ether has been rallying with an increasing bearish momentum for a while, this is perfectly in line with the downward trend both on the lower and higher time frames. In August, Ethereum went below a key level 304.17, and has been rallying below this level in continuation with the impulsive wave(5) now below the next key level 239.02. As long as the price is below both the levels 304.17 and 239.25, we expect a possible momentum to the lowerside. Currently the price is retracing back to the upperside, but should not break above (308.17) where we expect to continue short.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
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Bob Stan
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