Ethereum broke out, making new relative highs, before retracing back to its value area at the psychological and technical level of $2600. We retraced to $2556 and found good support at this level. If that can't hold, we should have support at $2545 and $2400, both of which would be great areas to accumulate a position. We have a clear bull trend at this point, so any retracements should be considered buying opportunities.
Note
New relative highs reached!! Ethereum getting a lift from the London hard fork! Let's see if it can make it to $2800!!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.