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Ethereum Technical analysis

Hello Everyone Welcome back to another Ethereum update

I would highly suggest you Guys wait on the sidelines until we see A proper move is set tomorrow but of course, If we do end up seeing a bearish confirmation for tomorrow's news you guys already know when you have such a large dump opportunity followed by a consolidation it doesn't necessarily mean it's a buying opportunity it simply just means this is another consolidation before a new leg towards the downside

Looking at the daily time frame speaking about a new leg if we do end up seeing a break of 1518$ support which you guys already know is a major support level on the weekly time frame not only does it play out this massive information perfectly but losing that support level at 1518 would mean the fact that we are looking for a much stronger move towards the downside overall possibly back into the 1200$ 1300$ Ethereum now a lot of you guys have mentioned the fact that hey where exactly do you see Ethereum going long term

looked like a larger consolidation after we had such a massive dump from these regions of 3000 usually when you have such a fast dump As I said we have this consolidation zone before we see this new low and what I have been paying attention to is this 723 dollar zone this is my bearish target overall from a long-term perspective and the reason for that as I've shown you guys many times when Ethereum had its original massive Bull Run opportunity This was the level that was acting as resistance not only that but it did react as support before we saw that continuation and that's exactly

I mentioned the fact that there's a tight ton of liquidity trapped within that rage now before you guys assume that it can never happen ethereum will never hit those new lows keep in mind understanding where things are likely to head you can see that we have struggled to break above the two thousand dollars Ethereum not once but twice at these zones and usually when you have that much structure break and we still can't break above with volume that usually says that people are not ready necessarily for a massive Bull Run nor are market makers in the current conditions and right now looking at the current conditions guys there's no reason for Ethereum to go see a new bull run right now, of course, keeping fundamental aside we are only looking for technical analysis and right now even just speaking of technicals when you have these two large points of entries that fail to break above it tells you, of course, the fact that Bulls are extremely weak but that's pretty much