ETH is coiling up between resistance of the 34 EMA and the blue support line. Breaking the blue support line would give us a target between the purple shaded box. The purple pattern is a bigger descending triangle (bearish pattern), which is likely to break down. A breakdown of the descending triangle would give us a first target around $291, this is the brown support line of the descending channel.
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Ethereum is breaking down from its triangle!!
