ETH - Ethereum cryptocurrency recently broke the support area located between the key support level 2900.00 (which former the daily Hammer earlier this month, as can be seen from the daily Ethereum chart below) and the 50% Fibonacci correction of the previous upward impulse from the end of January. The breakout of this support area accelerated the active medium-term corrective wave (2).
Given the strongly bearish sentiment that has spread across the cryptocurrency markets today - Ethereum cryptocurrency can be expected to fall toward the next support level 2720.00 (target for the completion of the active corrective wave (2)).
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