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Ether holds onto a tight weekend range too

04 Sep, 2022

On Friday it was again noted here; that Ether was still holding a price range, approximately defined by its 50 and 100 day moving averages. Well, that did remain the case ahead of the weekend and since then, coming into the Asian opening this evening, that has remained the same, but those moving averages have shifted. The 100 day is now at 1501.45 and the 50 day is currently at 1654.50. Trading has been tight though, with the range since Friday evening covered by 1534.90 to 1586.40 so far. One thing to note for the time being. The high on Saturday was set at 1586.40 and the high earlier today was set at 1582.60. Perhaps its too early to say yet, but if that remains the case ahead of next week, then we would be looking at a double top on the daily charts above 1580 coming into next week. ETHUSD is currently trading at 1558

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