_🛑✋️🚫Ethereum's Recovery and Optimism_ 🚀

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- Ethereum's price has increased by 14.7% in a week, surpassing Bitcoin's 0.8% rise 📈

- The upcoming Ethereum merge (from proof-of-work to proof-of-stake) has

contributed to investor optimism 🔩

- However, the cryptocurrency market is volatile, and Ethereum's price may be affected by resistance levels and bearish sentiments 🚨

_Positive Indicators_ 🌟

- Increased active addresses indicate growing engagement with the network 📊

- Low net deposit on exchanges shows strong buying pressure 💸

- Coinbase premium is in the green, reflecting positive buying sentiment among US investors 🇺🇸

- Funding rate in the derivatives market remains positive, suggesting active buying of ETH at higher price levels 📈

_Challenges Ahead_ 🚧

- Ethereum needs to surpass resistance levels at $2,400 and $2,450 to maintain its bullish trajectory 📈

- Bearish sentiments are indicated by the Relative Strength Index (RSI) and Chaikin Money Flow (CMF) 📊

Overall, Ethereum's recent recovery has sparked optimism, but the market's volatility and potential challenges may impact its price 🤔.