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Ethereum (ETH) in Consolidation Zone Before Breakout


Ethereum (ETH) changed hands above the $165 two days ago and now price is correcting near the $150 level. ETH/USD pair is actually consolidating and likely getting ready for the following move.

Ethereum price is following a bullish pattern where the resistance is becoming support.

ETH/USD is exchanging over a key bullish pattern at $155.

The price may stay at the 160-150 range before the next move.

After testing the $150 level Ethereum started a slight upward movement.

ethereum price ETH chart - Ethereum (ETH) in Consolidation Zone Before Breakout

The price as of now is exchanging in a range close to the $160.00 level and it appears as though it is planning for the following upward move. On the upside, there is a solid opposition close to the $165.00 and $167.00 levels. On the off chance that there is an effective break above $167.00, the price may quickly go toward the $180 and $200 levels.

On the other side, a drop under $150 level might be a sign of a short-term bearish signal.

In general, Ethereum price is exchanging over the $150 levels. In any case, ETH must move above the $167 level for a confirmation of the upside short-term trend.

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About Author

Ethan Hunt

Bitcoin Maximalist and Toxic to our banking and monetary system. Separation of money and state is necessary just like the separation of religion and state in the past. Also, pro-local, pro-global and anti-national.

Disclaimer: All content found on is only for informational purposes and should not be considered as financial advice. Do your own research before making any investment. Use information at your own risk.

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