Ethereum Faces a Critical Weekly Close as Bears Shatter Key Support

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Ethereum has been struggling to maintain its momentum ever since it peaked within the $440 region The cryptocurrency is now trading right around a crucial support level that bears were able to shatter overnight Bulls are now moving the reclaim the cryptocurrency’s position above this level Whether or not it can hold above this level as its weekly close fast approaches should provide investors with significant insight into its near-term outlook Analysts are noting that a firm close above this level could allow it to see a sharp and swift movement to $500 Ethereum is currently facing some mixed price action. Although the cryptocurrency is trading up significantly from where it was just a week ago, the firm rejection it faced around $450 during its recent push higher spelled trouble for its near-term outlook. Sellers are now trying to force the cryptocurrency beneath a crucial level that could play a…

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