ETH price & Analysis ?
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Ethereum (ETH) is down 1.76% to $3,352.70 in 24 hours, with a $18.71 billion trading volume. Ethereum, ranked #2 in the cryptocurrency market, with a $403.88 billion market valuation and 120.47 million circulating units.
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Prices have narrowed into a symmetrical triangle formation, a technical setup that generally indicates a major price move.
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Bullish momentum depends on $3,350 resistance, the triangle's top border.
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Stopping additional falls need support at $3,221 and $3,097.
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This tightening range is watched by traders for the next breakthrough.
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Ethereum's symmetrical triangle implies a turning point. A bullish breakthrough over $3,350 might target $3,520 and then $3,700.
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The 50-day EMA is $3,355, emphasizing the importance of passing this resistance level.
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However, failure to break over $3,350 might bring Ethereum down to the $3,221 support zone and perhaps $3,097.
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With an RSI of 52, momentum is neutral and open to either direction.
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Key Resistance and Support Levels
Instant Resistance: $3,350
Next Resistance: $3,520, $3,700
Immediate Help: $3,221
Next Support Levels: $3,097, $2,983
Ethereum Technical Indicators and Market Sentiment
RSI 52 indicates neutral market momentum, neither overbought nor oversold. A break above the symmetrical triangle might signify a trend change, boosting bullish optimism.
A negative breakdown may increase selling pressure as traders capitalize on bearish momentum.
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Ethereum's $18.71 billion trading volume shows substantial market involvement, emphasizing the consolidation phase.
As the price oscillates inside the triangle, traders expect further volatility and a dramatic breakout in the following days.