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Ethereum (ETH) in Consolidation Zone Before Breakout

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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.

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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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.

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