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The quotation of the cryptocurrency ethereum is in the phase of upward rebound, which aims to attack the first important level of resistance, which is located in the price region of $ 900. In the event of a breakthrough it opens the way to an attack on the key confluence of 100% geometry and a round resistance level of $ 1,000.

Picture 1. Technical analysis, ethereum, H4,09.02.2018

From the point of view of the time interval M30, attention should be paid to the forming of the triangle, from which the break should define the direction of movement in the context of the end of this week. Breaking the top limit of triangle will be the perfect confirmation of the attack on the mentioned resistance of $ 900.

Picture 2. Technical analysis, ethereum, M30,09.02.2018

On the other hand, breaking the lower limit of the triangle is a chance to return the price to the falls, at least around 700 dollars.

Risk Warning: The contents of this analysis is for informational purposes only and does not constitute investment advice

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