Ethereum has made a run for higher levels, forming a bear wedge with an upper bound around $3550. This gave bulls some high hopes of a breakout, but reluctantly, we have rejected these higher levels for now, and have broken to the downside. We are seeing support at $3324, a level we have been discussing in these reports for months. Savvy readers would have been able to anticipate support here for as we've discussed it many times. It is clear ETH is establishing value in the range between $3324 and $3550 or so. From here it could go either way. If it breaks down further we will have support from $3200 next. If we manage to break through $3550, then $3646 is the next target.
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Ethereum hits support at $3200 as we discussed!
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