ETHUSD Approaching Resistance, Potential Reversal

ETHUSD is approaching our first resistance at 148.79 (100%x2 Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where a strong drop might occur below this level pushing price down to our major support at 134.38 (61.8% Fibonacci extension, horizontal swing low support). Stochastic (34, 5, 3) is approaching our resistance and we might see a corresponding drop in price.

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