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We saw a massive sell-off in the Ethereum price earlier today after the ETH bulls failed to break through the $1,787 key resistance area in the 1-hour timeframe.
However, this sell-off in Ethereum only pushes the ETH price back down to multiple key levels in the 1-hour timeframe. The question now is can we expect to see a price bounce in the coming days or will these key support levels fail?
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Ethereum Testing These Key Levels! What Now?
The Ethereum price is currently trading at a major level in the 1-hour timeframe. This $1,669 key support is one of the best places to expect a price bounce in the coming days.
The question now is will the Ethereum bulls be able to defend this $1,669 key support or should we expect a sell-off in price below this level?
If the Ethereum price bounces in the coming days, we can expect to see a bullish reversal play out in the Ethereum price chart as the days go by.
So in the coming days, we will be keeping a close eye on this $1,699 key support to see how the Ethereum price reacts to it.
Final Verdict!
The Ethereum price is currently trading at key support in the 1-hour timeframe. What direction the Ethereum price takes in the coming days will have a close correlation with what the ETH price will do as it continues to test the $1,699 key support.
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