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Ethereum (ETH) Ready To Make Fresh Gains After Recent Correction

Ethereum (ETH) declined once again to the 38.2% fib extension level and has now formed a double top there. This has increased the probability of a move to the upside from here which might see the price rise all the way towards $170. We can expect ETH/USD to test the 200 moving average on the 4H time frame if it ends up rallying higher from here. If it declines below the 38.2%, then we can expect it to decline down to the 61.8% fib level at $141.3. However, there is a strong support at $144 which corresponds to the 50% fib extension level from the recent bottom and the 61.8% fib extension level from the December, 2018 low to the yearly high.

Recently, we have seen Bitcoin (BTC) decline harder than Ethereum (ETH) which is something that does not happen often. Bitcoin…

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