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Ethereum price has reached the important $350 price level and major support of previous April lows as expected by our last analysis. The trend remains bearish. However, there are many chances of at least a bounce towards $400 as 5 waves down could be completed from the July 18th highs.
Magenta line - triangle wave 4
The Ethereum price has many chances of a bounce towards $400 from current levels. I would not trade the bullish side but I would take any profits from a short position. Price has most probably completed 5 waves down. The fifth wave also has an RSI bullish divergence. This supports our view for a bounce.
I'm expecting a short-term bounce at least.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
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