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Ethereum Price Nosedives Over 5%, Pressure Mounts on Bulls
- Ethereum price is down over 5% and trading below $2,350l.
- There was a break below a key bullish trend line with support at $2,400 on the hourly chart of ETH/USD.
- The pair must clear the $2,320 resistance to start a recovery wave in the near term.
- If Ethereum fails to clear the $2,320 resistance, it could start another decline in the near term.
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