ETHUSD needs to continue momentum to break upcoming resistance
ETH has broken out of the short term (1 week) channel
It is currently still in the medium term downtrend channel started on May 5th
It is also in a short term uptrend channel started on May 28th
Facing psychological and fibonacci resistance at $600
Facing downtrend and fibonacci resistance at $650
If it breaks above $650, we can consider it a break of the downtrend, and a true long term uptrend
If it can't break these resistance levels, expect a retrace to $540, then possibly to $460
Currently sitting around $580
It is currently still in the medium term downtrend channel started on May 5th
It is also in a short term uptrend channel started on May 28th
Facing psychological and fibonacci resistance at $600
Facing downtrend and fibonacci resistance at $650
If it breaks above $650, we can consider it a break of the downtrend, and a true long term uptrend
If it can't break these resistance levels, expect a retrace to $540, then possibly to $460
Currently sitting around $580
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