Ethereum has dropped strongly and is bouncing off key support at 709 (61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap support) and a strong bounce could occur at this level. Our next major level of support is at 653 (Fibonacci retracement, horizontal swing low support) and our next major level of resistance is at 804 (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,5,3) is seeing major support at 6.7% where a possible bounce could occur.
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