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10 May 2021

TA: Ethereum Seems Unstoppable, Here’s How ETH Could Extend Rally

TA: Ethereum Seems Unstoppable, Here’s How ETH Could Extend Rally


smart summary beta

Ethereum remained in a positive zone and it traded to a new all-time high above $2,750 against the US Dollar.

The channel support is close to the 50% Fib retracement level of the recent wave from the $2,560 swing low to $2,764 high.

The next major resistance is near the $2,800 level, above which the price could accelerate higher towards the $2,880 level.

Any more losses might call for an extended decline towards the $2,550 support zone or the 100 hourly simple moving average in the near term.

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