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Ethereum challenges cloud resistance once again.

Ethereum price is bouncing higher after making a low around $2,300. The January low remains intact. However price remains below the Ichimoku cloud in the Daily chart, thus trend according to this indicator remains bearish.

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Ethereum is trading below the Kumo (cloud) and below both the tenkan-sen (Red line indicator) and the kijun-sen (yellow line indicator). Both indicators provide resistance at $2,730 and $2,790 respectively. A rejection at current levels will push price back towards today lows or even lower. There are hopes of a reversal but we have no such a signal. First signal would be for price to enter the cloud and break above the kijun-sen.


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