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Ethereum’s price is moving up in a flat-like dynamic. It is now close to a medium-term resistance line, where the upward trend could be switched to a downward one.
Ethereum Price Analysis
Ethereum, eth, price, usd, trend
As long as the structure of the current trend is not disrupted, the current growth will continue right until the medium-term level of $13.7.
The future movement’s cycle will probably be decided at that point.
If the downward correction continues below $10, there will be a rebound from the medium-term level of $13, where the diagonal channel and the Fibonacci level 23 intersect. Otherwise, if Ethereum’s price does not break its upward structure when it reaches $13.7, the entire upward movement could become a part of the long-term upward wave with the minimal target of $15.
So far the odds are on the side of a long-term upward trend, as there was no turn on the medium-term scale. The decisive element will be the structure of the upward trend, which has started at $10.
The fate of the long-term upward trend will likely be decided at the $13.7 resistance line. In the case of a disruption of the structure of the upward trend, which has started at $10, the medium-term downward correction will likely be continued beyond that mark.
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