ETH is testing the support of this ascending corrective trendline and has the potential of forming a new swing low here. With our expectancy of short term growth to the 40k supply zone on BTC we can expect ETH to follow and possibly take out the stops of short traders first before inducing bulls into the market and dumping back below.
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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.