Ethereum (ETHUSD) Analysis and Forecast (Thu, Sept 20th, 2018): A decline to gather momentum

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A slight decrease is needed for further increases in Ethereum price.

A pullback from the 23.6% Fibonacci retracement level lifted Ethereum higher to the threshold of $210. Last midnight, the market witnessed a big fall in Ethereum price to as low as $195. Afterwards, the 2nd-largest cryptocurrency bounced back shortly, trimming all the losses.

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Etherum (ETHUSD) H4 chart on September 20th, 2018

The price of Ethereum has been moving back and forth under the resistance of $211 as the bears keep defending this threshold. The pair is expected to slide back to the level of $204 and bounce off in order to continue its upward momentum.

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Etherum (ETHUSD) H1  chart on September 20th, 2018

Written by nami.today

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