Ethereum has shown a positive trend after bouncing back from the $3,051 support level, indicating potential for further gains. The recent recovery demonstrates strong buyer interest, with ETH resisting downward pressure. Traders are now monitoring key resistance levels to gauge Ethereum's future direction. Will the current uptrend lead to a sustained rally, or will selling pressure return? This analysis delves into Ethereum's recovery, examining critical resistance zones and market dynamics to forecast possible price scenarios. ETH's upward momentum is supported by trading above the 100-day SMA, signaling potential for additional gains upon breaching resistance. The RSI on both the 4-hour and daily charts suggests a shift towards bullish sentiment, with strong optimism reflected in candlestick patterns. As Ethereum targets the $3,360 level, breaking through could pave the way for further growth, while failure may result in consolidation. Overall, Ethereum's performance indicates a positive market outlook with opportunities for advancement. Read more AI-generated news on: https://app.chaingpt.org/news

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