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ETHUSDT Can we see ETH dump 10% from here??After making an ATH ETH got rejected by the resistance and seems to want to trade much lower. We can expect it to find support around the 1270 level as this area has acted as support and resistance level before. If it does break this support level we can expect it to trade at the bottom of this parallel channel. - - - - - - - - - - - - - - Disclaimer: The content covered in this channel is NOT to be considered as investment or trading advice. I am NOT a financial adviser. These are only my own speculative opinions, ideas, theories, hypotheses and trade setup ideas on the market. The content posted in this channel is purely for entertainment purposes only and the information is NOT to be used or replicated by others.
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by TheForecasters
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ETHEREUM To Continue Decline After Short-term GainETHUSD decline from $1348.24 unfolded as a five-wave impulse. The sub-wave of wave (3) is also visible. According to the Elliot Wave principle, at least a three-wave move in the opposite direction follows every impulse. The correction seems to be unfolding as a simple zigzag, which is now in wave (c). Once the three-wave move is completed, the price should resume in the direction of the impulse. So a decline below the previous low at $912 is plausible in the days ahead. This scenario is applicable to Bitcoin and Litecoin because they're highly correlated! What's your thought on Ethereum? Let me know in the comment. Thanks for reading, Veejahbee.
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by Veejahbee