🔥 Ethereum Reversal From 14 Month Resistance

In my previous analysis on Ethereum I talked about the bear market resistance which was being tested back then. My anticipated break out didn't occur, so no trade has been made.

As of today, ETH has bounced from the bear market resistance, but also fallen through the bottom diagonal support line, which is making this setup even more bearish.

In my view, we're likely going to retest the top yellow area. If that fails to hold, we might even fall to the second one.

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First target hit!