Ethereum has retraced from highs, but it appears to be gearing up for another breakout. It is showing consistently higher lows, and a constant upper bound of 1424. This is showing us that it is coiling up like a spring ready to snap. We should have support from the lower trend line of our bull wedge pattern. If not, we will see support from the lower Fibonacci levels below at 1233, 1172, and 1111. When we breakout, 1546 is the next target.
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