Ethereum Flag Pattern Risks Plunge Towards $177; Here’s Why

Ethereum Flag Pattern Risks Plunge Towards $177; Here’s Why

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Ethereum is facing risks of undergoing a massive plunge as it partially confirms a bearish flag pattern.

The technical setup appears after an asset forms a consolidation channel upward following a strong bearish move. The downward movement is called flagpole, while the consolidation is referred to as the “flag” itself. Ethereum is forming the same pattern, as shown in the chart below.

ETH/USD is…

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