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Ethereum Price Analysis



Ethereum 

Price Analysis

Ethereum broke below the trendline on May 01, but the dip was aggressively purchased, due to which the prices recovered and closed (UTC) above the trendline.
ETH/USD
$700 is proving to be a major hurdle for the bulls. If the ETH/USD pair breaks out of this, it will move to $745 where it might again face a minor resistance.
The cryptocurrency will gain strength and rally to $900 and then to $1,000 once it closes above $745. On the downside, the 20-day SMA should act as a strong support. Below this level, the decline can extend to the 50-day EMA.
So we’d better wait for the breakout before proposing any trade.
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