Ethereum Shows Signs of Weakness as It Nears Last-Ditch Support

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Ethereum is showing some signs of weakness as it once again dips below $390 This level has become slight support for the cryptocurrency, with a sustained bout of trading beneath it potentially degrading its technical strength Analysts are offering a mixed outlook on the cryptocurrency, but one thing that is widely agreed upon is that it is approaching a make-or-break support level If the cryptocurrency is able to bounce at this level, it may be positioned to see significant near-term strength A break below here, however, could cause it to post massive losses that invalidate its bullish market structure Ethereum has been incurring faltering momentum in recent weeks, with buyers being unable to support the cryptocurrency above its short-term support at $390. This has opened the gates for it to reel down to its next key support level, which sits at $380. Analysts are noting that this is a crucial…

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