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Ethereum Technical Analysis Short and Mid Term (ETH/USD)

After last month’s upside breakout and quick rally, ETH is now consolidating in the 225/285 range. The basic target for the breakout remains near 338

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After last month’s upside breakout and quick rally, ETH is now consolidating in the 225/285 range. The basic target for the breakout remains near 338 which I believe could be reached relatively fast if the short term consolidating area is surpassed on the upside. 

On the downside, we should be looking to 225 as a short term support (and buying area) and below that 200 remains as a strong  support level in case the current consolidating area doesn’t hold. 

Short Term / Mid Term Annotated Chart with reference levels

Strategy: 
– The Main Short and Mid Term pattern is  bullish , so longs should HOLD, and no short positions recommended until this pattern is invalidated (while ETH remains above 200). 
338 is the technical target for this movement, so probably a nice profit taking area, at least partially. 
225 and 200 should be looked as good entry points for long position.

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