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This morning, it was reported that there were many attempts by ETH price to clear resistances like $292 and $290 against the US Dollar. However, the ETH/USD pair failed to gain bullish momentum and it slowly moved down. It broke the $284 support recently and spiked towards the $277 level. A low was formed at $277.97 before the price made a nice recovery. It moved above the 23.6% Fib retracement level of the last decline from the $302 high to $277 low. (Source: newsbtc.com/2018/09/05/ethereum-price-analysis-eth-usd-moving-lower-within-range/)
However, later this morning Ethereum has broken below the support at $280. There is a huge correlation between Ethereum and Bitcoin price. The slide in Bitcoin appears to have affected a majority of cryptos in the market. ETH/USD is seeking balance above $260 after dismembering the support at $270. Ethereum declined towards $250 in August, therefore, a support above $260 is very essential. Otherwise, Ethereum could test the former support at $250. (Source: fxstreet.com/cryptocurrencies/news/cryptocurrency-market-update-are-bitcoin-whales-dumping-bitcoin-ethereum-and-ripple-crash-201809051054)
We at Osiris Finance are delighted and proud to announce that our algorithms performed an outstanding job spotting the incoming dump and made a decision to cache in fiat.
The following is a scheduled notification from the Osiris team. Our models have been working hard and smart on forecasting the market, and here are the most up-to-date predictions for the next 3 hours:
As usual, red, green and blue rectangles demonstrate predicted values of low, high and close, respectively, with corresponding confidence intervals, and the black arrow illustrates our trades.
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