Ethereum Technical Analysis Report 8 July, 2021

• Ethereum reversed from resistance area
• Likely to fall to round support level 2000.00

Ethereum cryptocurrency recently reversed down from the resistance area located between the key resistance level 2317 (former support from May and June), upper daily Bollinger Band and the 50% Fibonacci retracement of the previous downward correction B from the start of June. The downward reversal from this resistance area stopped the previous impulse waves (iii) and C.

Given the worsening risk sentiment seen across the crypto markets today – Ethereum cryptocurrency can be expected to fall further toward the next round support level 2000.00 (which reversed the previous minor correction (ii) at the start of July).

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