Ethereum is correlated to Bitcoin therefore it's trend has been melting. This will be short-term as cryptocurrency prices and implementation are heading to the moon. Especially Ethereum. If you look through the chart you'll se some key pieces of knowledge. The fibonacci is placed every time that a L.H is being created on a downtrend (countertrend). It determines the Risk/Reward ratio based on what percentage is finds support/resistance on, 38.2%, 61.8%, etc. -27% is used as the projection level. Eye will delving deeper into this pair as it continues.
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