Ethereum is approaching our major support level at 995 (Fibonacci retracement, horizontal swing low support) and a clean break of this level could open a potential drop to 769 major support (Fibonacci extension, horizontal swing low support). We have to be careful of intermediate support at 931 (Fibonacci retracement, horizontal swing low support).
RSI (34) has made a bearish exit of our ascending support-turned-resistance line signaling that we’re likely to see massive bearish pressure.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results