Ethereum Price Analysis: Waiting for Another Correction

Ethereum is making a correction to its short-term ascending trend line and is testing support around the Fibonacci retracement levels. Price is currently at the 50% Fib level around $610 that lines up with the trend line.

The 100 SMA is above the longer-term 200 SMA to signal that the path of least resistance is to the upside. This means that the rally is more likely to resume than to reverse. The gap between the two is also widening to signal strengthening bullish momentum. Also, the 200

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