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Daily Crypto Price Analysis (Ethereum 6th August, 2018)

Analysis

Ethereum dropped as expected, but there can be a room for more weakness towards $360-$335 next support zone since we have seen a break below channel support line. But, according to a potential support on BTC, we would be very careful at this stage, because there’s a chance of a triangle, so downside can be limited once it hit new lows. However, we remain bearish while it’s below the $500 region. Only a sharp and impulsive bounce would indicate a bullish reversal.

 

 

 

 

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