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Ethereum has broken major support, could lead to a big drop!

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Ethereum (COINBASE:ETHUSD)  
Tickmill Mäklare  
COINBASE:ETHUSD   Ethereum
Trend Analysis Harmonic Patterns Chart Patterns ETHUSD ethusdlong ethusdshort Ethereum (Cryptocurrency) ethereumshort ethereumlong Cryptocurrency Bitcoin (Cryptocurrency)
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trendanalysis harmonicpatterns chartpattern ethusd ethusdlong ethusdshort ethereum ethereumshort ethereumlong cryptocurrency bitcoin
Ethereum has broken major support at 756 (Fibonacci retracement, horizontal overlap resistance, bearish price action) and a strong drop could occur from this level towards 538 support (Fibonacci extension, Fibonacci retracement, horizontal overlap support).

RSI (34) sees an intermediate descending resistance line provide downside pressure on Ethereum.

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Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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