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#ETH_Market_Update $ETH
Ethereum has broken the bear flag, signaling a potential shift in market sentiment. While predicting the exact trajectory of ETH can be challenging, a decisive break above the 3600 zone, if confirmed as new support, could pave the way for a rally towards the 4050 zone, with the momentum possibly extending to the 4650 mark. The retracement to the Fibonacci 38.2% level further bolsters the case for a bullish continuation, setting the stage for a target of 4880.
Amidst these developments, it’s evident that profit-taking actions are underway, reflecting the market’s response to recent price movements. Investors and traders are closely monitoring these levels, as a sustained upward movement could attract more interest, potentially leading to a significant appreciation in value.
Ethereum has broken the bear flag, signaling a potential shift in market sentiment. While predicting the exact trajectory of ETH can be challenging, a decisive break above the 3600 zone, if confirmed as new support, could pave the way for a rally towards the 4050 zone, with the momentum possibly extending to the 4650 mark. The retracement to the Fibonacci 38.2% level further bolsters the case for a bullish continuation, setting the stage for a target of 4880.
Amidst these developments, it’s evident that profit-taking actions are underway, reflecting the market’s response to recent price movements. Investors and traders are closely monitoring these levels, as a sustained upward movement could attract more interest, potentially leading to a significant appreciation in value.