Look!!! Is ETH about to take off? The price is approaching the key resistance level!

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Ethereum (ETH) has shown a strong rebound recently, with prices growing steadily above $3,400, and as it approaches the resistance level of $3,550, market enthusiasm has risen again.

Upward signals appear

Breakthrough of key price levels: ETH successfully broke through $3,400 and $3,450 and remained above the 100-hour moving average.

Strong trend support: A bullish trend line is shown on the hourly chart, with support at about $3,455, providing a stable basis for subsequent increases.

Resistance level close to breakthrough: The current main resistance levels are $3,525 and $3,550. If it can be clearly broken through, the target price is expected to rise to $3,620, or even challenge $3,750.

Potential risks and support

If the price fails to break through the $3,550 resistance, Ethereum may face a pullback:

Short-term support: Initial support is around $3,455, and the key support area is $3,375, which is the 50% Fibonacci retracement level of the upward trend.

Deep pullback warning: If it falls further below $3,375, the price may return to the $3,250 or $3,220 support area.

Currently, ETH is on the verge of a key breakthrough, and the market may usher in an important trend in the short term. If it successfully stands above $3,550, a new round of rise will most likely start; otherwise, it is necessary to be vigilant about the risk of a downward test of the support level. Investors should pay close attention to the dynamics of resistance and support levels and seize potential opportunities!

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