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Democrat Senator Launches $1.7B Iran Sanctions Probe Into Binance Bitcoin price climbs 3% as gold divergence signals ‘significant upside’ Ethereum Foundation Starts Staking Treasury Amid Vitalik Buterin’s ETH Sales Coinbase opens stock and ETF trading to all US users in multi-asset push

Trading View March 6, 2022

🔥 Ethereum On Support: Still Weak

🔥 Ethereum On Support: Still Weak

🔥 Ethereum On Support: Still Weak

Ethereum / TetherUS BINANCE:ETHUSDT

FieryTrading

Over the course of a year, ETH has been trading inside a huge bullish channel . On several occasions, this channel has functioned as a strong support and resistance are.

It appears that the lower bound of the channel is holding for now. However, the bounces from the support are getting weaker every time. As it looks now, ETH is forming a bear-flag , signaling more potential downside pressure.

In case of a bounce, we could see a quick move towards the $3000 area. Be aware we first need to break through the bear flag . In case of more bearishness next week, keep an eye out for $2200.

Happy trading!

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