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Analysis of Ethereum against the dollar.

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Ethereum showed a good show of strength from the bulls as the asset broke and returned to an important support level at $3,540, characterizing an important beartrap.

I am opening a long position with a target at the next important resistance at $3,991 and stop just bellow the last botton in $3488.

Reasons to buy:

1 - Beartrap at an important support level.

2 - Good risk/reward ratio.

Don't forget to always practice good risk management and do your own analysis.

For more analyses like these, follow me on Tradingview.

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