Ethereum analysis and forecast (Wed, Sept 5th, 2018): $300 threshold ahead

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Ethereum is witnessing a convergence within a convergence

Ethereum has been diving in the one-year low for three weeks and has stuck in an area which may be called “a convergence within a convergence” - marked with the blue triangle on D1 timeframe.

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Ethereum (ETHUSD) D1 chart on September 5th, 2018

Since the beginning of this month, Ethereum has moved in a slightly downward channel. Today, this cryptocurrency is about to test the support line at $280, and it will keep going sideways nearby this area for a short period of time. As for the rest of this week, an increase to the level of $300 is expected to happen.

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Ethereum (ETHUSD) H4 chart on September 5th, 2018

Written by nami.today

 

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