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Huobi x CoinMarketCal 👀A Coin To Keep An Eye On- ETH!

🔹What is ETH?

Ethereum is a decentralized, open-source blockchain featuring smart contract functionality. Ether is the native cryptocurrency of the platform. It is the second-largest cryptocurrency by market capitalization, after Bitcoin. Ethereum is the most actively used blockchain. Source

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📅Event: FEB 8th — ETH Futures will be expanding to more traditional markets and ETH 2.0 on the way, trade on Huobi Futures!

ETHUSDT, 1D, Feb 1st 12:04 EST

📈Analysis:

ETH’s bull run met resistance near the beginning of January, with a brief spike above its all-time high being forced back down into support on January 25th.

The current support between $1,292 and $1,207 could form a higher low before a surge above the all-time high, offering aggressive bulls an entry in the current region.

However, a deeper retracement across the crypto market could drop the price to support near $1,130, possibly creating a wick to fill the gap between $890 and $787 and giving longer-term bulls an excellent entry.

If the price breaks resistance between $1,348 and $1,439, it’s likely to take out the high at $1,475. The extension near $1,970 provides a reasonable first target, with the extensions at $1,579, $1,794, $2,102, and $2,317 providing reasonable take profit zones.

🔷Trade ETH & Get $170 Welcome Bonus

Follow On Twitter @HuobiGlobal + @CoinMarketCal

www.huobi.com; coinmarketcal.com

Risk Reminder:

1. Trading in digital assets comes with high risks due to huge price fluctuations. Users should be fully aware of the risks associated with digital asset trading and make prudent trading decisions.

2. Huobi Global’s announcements and information do not constitute investment advice, and Huobi will not bear responsibility or provide compensation for direct or indirect losses arising from trading decisions whilst relying on this information.

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