Ethereum approaching major support, watch for break of key level

Ethereum is approaching our major support level at 995 (Fibonacci retracement, horizontal swing low support) and a clean break of this level could open a potential drop to 769 major support (Fibonacci extension, horizontal swing low support). We have to be careful of intermediate support at 931 (Fibonacci retracement, horizontal swing low support).

RSI (34) has made a bearish exit of our ascending support-turned-resistance line signaling that we’re likely to see massive bearish pressure.

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