Ethereum Analysis
* We always provide both the bullish and bearish scenarios because the traders should be aware of what to expect in both cases.
Ethereum has broken down the uptrend today, however, it found support from the 200-day SMA. If Ethereum finds it difficult to come back again above the uptrend, it may sink to test the $614 level, below it the 50-day SMA will be the next support level.
On the upside, we should look for the first target at $765, if Etherum succeeds to go above it a move to $830 is possible which is the 6 MAY high.
Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns. It's my own analysis. You should conduct your own research when making a decision.
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