- Ethereum price has come close to retesting the $1,731 support floor.
- A bounce off this barrier could trigger ETH to rally at least 16%.
- If sellers produce a four-hour candlestick close below $1,701, it will invalidate the bullish thesis.
Ethereum price has been on a downtrend for roughly four days and is currently approaching a support level. The price action over the last ten days suggests the possibility of a reversal pattern that forecasts gains for ETH.
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