easyMarkets

ETHUSD bounced off support, potential for a further rise!

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BITFINEX:ETHUSD   Ethereum
ETHUSD bounced off support at 117.2 (horizontal swing low support, 78.6% Fibonacci retracement , 100% Fibonacci extension ) where a further rise might occur pushing price up to our major resistance at 161.8 (horizontal swing high resistance, 61.8% fibonacci extension , 50% fibonacci retracement ).
RSI (55) bounced off our support where we might see a further rise in price.

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