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Ethereum Risks Crashing to $200 as Price Breaks Multi-Week Support

www.newsbtc.com

Ethereum breaks out of a Bear Flag pattern to signal further downside moves. Source: TradingView.com ETH/USD is now testing the intermediary downside target (dashed green; $350) of the same Bear Flag for a sharp pullback.

After price breaks below Flag, traders measure the short target by first measuring the distance of the initial decline, i.e., the height of the Flagpole. Source: TradingView.com With $192 in view, an overstretched move towards the said target could have traders eye a string of Fibonacci retracement levels.

Read in Full: www.newsbtc.com

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Bitcoin Bitcoin
69804.1000 -1.22%
Ethereum Ethereum
3535.17000 -1.24%
BNB BNB
611.047000 3.68%
Solana Solana
184.886000 -1.22%
XRP XRP
0.61379400 -1.48%