RECEIVED ETH CONDITIONS ON MAY 23

Ether (ETH) broke above the descending channel resistance line on May 20, signaling a potential trend change. The bulls consolidated their position further by pushing the price up above the $3,730 resistance. If the buyers keep the price above $3,730, it will signal that the bears have given up. The ETH/USDT pair could rise to $4,100. If this level is also cleared, the bulls will attempt to push the price to $4,868.

Contrary to this assumption, if the price turns down sharply and falls below $3,730, it will signal that the bears continue to sell at higher levels. The pair could then slide to the 20-day EMA ($3,224).

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