Peter Brandt noted that ETH could drop by 29% if the downside of a potential descending triangle chart pattern is completed.
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Peter Brandt noted that ETH could drop by 29% if the downside of a potential descending triangle chart pattern is completed.
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Bitcoin and altcoins are losing bullish momentum and persistent selling at overhead resistance suggests that the current consolidation is far from over.
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ETH’s bullish reversal candlesticks form near a strong support confluence, raising anticipations about a sharp upside retracement ahead.
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Downside risks for BNB also come from a recent Reuter exposé that claims Binance laundered “at least $2.35 billion in illicit funds.”
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BTC and altcoins flashed green at the weekly open, but overhead resistance levels will continue to pose a challenge in the short-term.
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A mix of on-chain, fundamental, and technical factors suggests more pain for Ether bulls ahead.
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