Over the past days, Ethereum, much like its counterparts, has encountered its fair share of hurdles on the path to recovery. Despite valiant efforts from bullish proponents, the journey above the $3,100 resistance zone has proven to be elusive, leaving traders in a state of cautious optimism.

Technical analysis reveals a nuanced picture, with Ethereum currently trading below the $3,120 mark and the critical 100-hourly Simple Moving Average.&middot

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