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A raft of alt-coins are registering double-digit losses and the overall market tone has turned from excited to quiet over the past weeks.
A basic short-term ascending channel has been built over the last 10 days and the channel support is now coming increasing pressure, leaving Bitcoin vulnerable to further losses.
ETH/USD is close to making a three-week low and all the enthusiasm seen in the coin from the end of last year to its peak at just under $4,400 has now disappeared.
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