is currently trading at $3,445.80, reflecting a 3.23% gain over the past 24 hours. As the second-largest cryptocurrency by market cap, ETH continues to attract attention from traders and investors. Let's analyze its performance and highlight two potential targets.
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🔍 Key Technical Levels
1️⃣ Resistance Zone (Target 1): $3,550
The first key resistance level lies at $3,550, which coincides with the 24-hour high of $3,547.25. A break above this level could signal a continuation of the bullish trend.
Indicator Support: MA7 ($3,448.30) and MA14 ($3,446.53) show bullish alignment, supporting upward momentum.
2️⃣ Major Resistance (Target 2): $3,600
If ETH surpasses $3,550 with strong volume, the next target is $3,600, a significant psychological level. This level could act as a profit-taking zone for short-term traders.
Watch for: A breakout confirmed by increasing trading volume and positive MACD divergence.
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🔽 Support Levels
Immediate support is at $3,430, aligned with the most recent consolidation.
Stronger support can be found at $3,338, the 24-hour low. A drop below this level may indicate bearish sentiment.
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📈 Indicators to Watch
Moving Averages (MA7, MA14, MA28): All converging near current price levels, signaling short-term stability.
MACD: A positive crossover could confirm further bullish momentum.
RSI: Near-neutral levels, suggesting room for upward movement.
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💡 Market Outlook
Ethereum’s recent price action indicates bullish potential, supported by strong turnover and favorable technicals. If broader market conditions remain stable, ETH could target $3,600 in the short term.
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🎯 Target Summary:
Target 1: $3,550
Target 2: $3,600
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