BINANCE:ETHUSDT   Ethereum / TetherUS
Hello, welcome to this ETH/USDT 1DAY chart update by CRYPTOSANDERS.

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CHART ANALYSIS:-ethereum (ETH) also stumbled lower on Saturday, with prices nearing a breakout of the $1,200 level.

Following a high of $1,222.20 on Friday, the world’s second-largest cryptocurrency dropped to a low of $1,200.48 earlier today.

The move came as ETH/USD fell below a recent ceiling of resistance at $1,220, with bulls now fighting to reject any further declines.

As of writing, ETH is trading at $1,209.44, as traders have so far rejected a drop below $1,200.

This is due to two things, first the 10-day (red) moving average has begun to trend upwards, which has brought back a level of bullish sentiment to the token.

In addition to this, the 14-day relative strength index (RSI) continues to track above a key floor of 37.75, which appears to be a major reason why we haven’t seen any further significant sell-offs.

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