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Welcome to this ETH update.
ETH did quite a good rally in recent days and currently trading above $1700 level.
According to this 1day chart, ETH is facing horizontal and trendline resistance confluence here. We need to break above this resistance for a further bullish rally in the market. RSI is also facing resistance and in overbought zone.
So what's the plan here?
1st scenario:- I'm buying ETH at pullback around $1550-$1600 level only if it holds. 2nd scenario:- If ETH gives a breakout from here without any pullback then I'm buying with the target of $2300-$2500
As of now I'm waiting patiently for either a breakout or a pullback.
Hope this chart will help you. If you have any queries or ideas then share in the comment section.
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