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thomasfar6

ETHEREUM - Inverted Head & Shoulders + Support and Resistance.

Ethereum (BITSTAMP:ETHUSD)  
thomasfar6  
BITSTAMP:ETHUSD   Ethereum
Trend Analysis Beyond Technical Analysis ETHUSD ETH ether Ethereum (Cryptocurrency) crypto Cryptocurrency ALT altcoin cryptotrader
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trendanalysis beyondta ethusd eth ether ethereum crypto cryptocurrency alt altcoin cryptotrader
Despite Bitcoin's recent upsurge in price, altcoins and Ethereum seem to be staying relatively stable and unaffected by the BTC's rise. From what I have been able to indicate Ethereum is still bullish, forming an inverted Head & Shoulders pattern if we can break this resistance we could be heading towards the $340 - $350 mark. However, there is still room for a slight pullback to the support level before a run-up may occur, if Bitcoin loses some value we could see Ether's price reacting positively as people tend to diversify their money into other cryptocurrency's to prevent losing money from a sell-off.

  • Orange Line - Resistance levels.
  • Purple Line - Support levels.

As always, trade accordingly.
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