ETH has continued its breakout, but momentum is waning at the $690 Fibonacci Level. After new highs broke upwards of $750, we have retreated to the safety of the $600 handle. The Kovach Momentum Indicators paint a rosy outlook in the long term, even if we have hit a speed bump here. Multiple levels provide support from be low, and we should be prepared for a dip to $620, followed by some consolidation as we form the dragon head pattern so often observed in crypto currencies. Any dip or consolidation should be considered a buying opportunity.
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