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Ether unable yet to make it back above $4000

18 Oct, 2021

The charge higher in BTC since Friday has rather left Ethereum (ETHUSD) behind which is perfectly understandable given the news behind the Bitcoin move was entirely centric to itself, with no mention of anything similar elsewhere at this stage. Nevertheless, Ether has been dragged higher at the same time. The second largest cryptocurrency rose to as high as $3,969 on Saturday, in a move which very briefly took it above trend line resistance. That is in place today at 3,888 and still falling. However, the current chart configuration does remain supportive. If it can clear well beyond this level and then take out $4000, there could be some further upside. That could even threaten the all time high (at 4379), but it has to get past a previous high, at 4027 first, which was reached on September 3. The range so far today has been covered by 3688 to 3894. It is currently trading at 3871

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