With the EIP 1559 proposal passed by the Core developers, it would bring a fundamental paradigm shift in the token economy of Ethereum, making it a Deflationary asset. In 4 Hr Time Frame, ETH has formed an Inverted Head and Shoulders pattern. RSI is also signalling a divergence with the price which strengthens the view that ETH could propel to new highs. Closing above $1630 can initiate fresh buying due to the breakout from the pattern. Key Levels to watch out:-
The support to the lower side is present at $1450 followed by $1370. The resistance to the higher side is present at $1820 followed by $1940.
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