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Ethereum (ETH/USD): Key Levels and Trading Strategy at $3,590

Ethereum is trading at $3,590, consolidating within a tight range that offers both opportunities and caution for traders. The immediate support lies at $3,500, providing a safety net, while the key resistance at $3,650 serves as a critical breakout point. A successful breach above $3,650 could propel ETH toward $3,750 or $3,900, fueled by strong market momentum and Ethereum's growing utility in DeFi and NFTs.

For bullish traders, entering above $3,600 with targets at $3,750-$3,900 and a stop-loss at $3,500 is a strategic move. Conversely, bearish traders might consider shorting if ETH drops below $3,500, aiming for $3,400 or $3,300, with a stop-loss at $3,600.

Ethereum’s technical setup, coupled with its robust fundamentals like staking growth and network activity, makes it a compelling watch. Stay alert for macroeconomic factors and Bitcoin’s influence, as they often dictate the broader crypto sentiment.

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