Ethereum (USDT) - Day chart

ETH almost at ATH price, strong resistance here but Daily MACD doesn't look like it is turning bearish yet. Two scenarios drawn in the graph. 1.236 would extent to price of 501 USD, where it would correct from this new upward trend.

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The correction for ETH probably starts at this point.

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The cup should act as a support line, but breaking out means that it will dump down.

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Support at 320/290/230, daily macd looking bearish.

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Should be bouncing slightly now from 300 to 320/340

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Outside of cup and strong dumps, with the China ICO ban Ethereum will have strong resistance breaking prior highs.

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Ethereum broke down point (4) of uptrend elliot wave, meaning it will seek support at lower levels. Probably at 256 USD.

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178 USD is the beginning of this trend and is strong support

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Looks like ETH completed an ABCDE corrective move and is now in for some up.

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