Hello, traders welcome you all to another chart update on ETH/USDT.
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After a quick meltdown, ETH reversed well and regained above by 12%.
In the current scenario, ETH broke the falling expanding channel and currently moving down to retest the upper trend line.
After a retest, it is highly likely to bounce above the price level of $1200 and more.
ETH needs to hold the $1080 price level to regain above, a candle close below will lead ETH again to its lower green support.
MACD is also about to print some red bars which is the indication of some consolidation here.
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This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments.
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Thank you.