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$ETH /USDT at Key Support â Will Ethereum Break Through or Retrace? âĄđŻ
Ethereum (
$ETH ) is showing promising signs on the 1-hour chart, currently trading at $2,472.79 with a 24-hour high of $2,508.00 and a low of $2,432.72. With the market moving between critical moving averages,
$ETH is primed for its next significant move. Letâs dive into the details!
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Moving Averages & Key Levels
1. MA(7): 2,483.53 â Immediate short-term resistance; ETH needs to break above this for bullish momentum.
2. MA(25): 2,469.94 â Serving as support, showing short-term resilience.
3. MA(99): 2,519.51 â Major resistance level, indicating strong upward momentum if breached.
ETHâs current price is sandwiched between these moving averages, suggesting that a breakout in either direction could set the tone for the next trend.
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Price Targets to Watch for ETH/USDT
đŻ Target 1: $2,500 â The first resistance level ETH must clear to confirm an upward movement.
đŻ Target 2: $2,526 â A breakthrough level that could signal increased buying interest.
đŻ Target 3: $2,566 â A key stretch target if the momentum continues strong.
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Caution: If ETH drops below $2,450, it could see further downside, potentially testing support around $2,382. Traders should keep an eye on these crucial levels to manage risk effectively.
Stay tuned for updates as ETH approaches these targets â a decisive move could be on the horizon!
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