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Ethereum Price Analysis: Showing Bearish Outlook Below 228 USD

Ethereum Price Analysis: Showing Bearish Outlook Below 228 USD
ETHUSD Is showing an overall bearish outlook currently below the important 200 and 100 EMA and with a bearish breakdown confirmed heavily to the downside which can continue when the bears hold this pace. Also ETHUSD is building a huge triangle formation which is a descending triangle that can break heavily to the downside when confirmed and showing the next steps in bearish continuation.
Etheruem Price Chart:
ETHUSD chart by TradingView
The RSI is sending moderate signs at the moment with more possible breakdowns to the downside and a touch of the oversold region possible which confirms below the 20 value.
The MACD sending an important sign which is a bearish crossover to the downside which is a serious sign in the MACD that is signaling the trend change to overall bearishness.
TREND: Downside
FORMATION: Descending triangle
EXPECTATION: Breakout
TREND AFTER EXPECTATION: More downside
PREV: 0.17657
OPEN: 0.17652
VOLUME: 66.318M
DAY’S RANGE: 0.17211 — 0.17760

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