ETH/USD 1DAY UPDATE BY CRYPTO SANDERS

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Hello, welcome to this ETH /USD 1DAY chart update by CRYPTOSANDERS.

I have tried to bring the best possible outcome to this chart.

CHART ANALYSIS:-Ethereum (ETH) continued to trade above $1,200 on Wednesday, with bulls pushing prices closer to a key resistance level.

ETH/USD hit a peak of $1,224.09 earlier in today’s session, which comes less than 24 hours after hitting a bottom of $1,206.44.

Despite prices nearing a ceiling at the $1,230 mark earlier in the day, bearish sentiment has increased at this level, leading to previous bulls retreating.

As of writing, the world’s second-largest cryptocurrency is trading at $1,214.44, which comes following a recent crossover of moving averages.

Looking at the chart, a downward cross between the 10-day (red) and 25-day (blue) moving averages has occurred, which typically is a sign of pending declines.

Should this momentum intensify in the coming days, ETH could likely move back toward a floor of $1,160.

This is not a piece of financial advice.
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ETH/USD 1DAY UPDATE BY CRYPTO SANDERS
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