3 min readETHEREUM (ETH/USD):
Ethereum remains firmly within its weekly range, trading between the lows of $2,100 and the highs of $4,100. I am interested to see if the price will provide clearer direction once we break out of this range.
A closer look at the technicals shows that price rejected the higher timeframe resistance area around $4,100. Since then, we have seen a continued breakdown, with prices moving lower. Additionally, examining the daily internal ascending trend line reveals a clear break below that level, along with the daily 50 EMA.
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