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ETHEREUM (ETH) Morning Analysis 08-02-2018

 

The 848.14 level formed a strong resistance against yesterday’s positive ETHEREUM attempts, supporting expectations for the bearish trend to continue in the short term as the SMA 50 meets this level to add more strength to it.

Therefore, the bearish trend will remain in the coming sessions supported by negative stochastic, noting that the break of 712.00 is required to confirm the trend towards 492.00 which represents our main target, while a break of 848.14 positive factor will push the price to start attempts to recover in the short and medium term.

The trading range for today is expected among the support at 700.00 and the resistance at 900.00

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