$ETH Price Surge – Technical Analysis Update 🚀

Current Price: $2,770.98 (+2.09%)

Ethereum has shown impressive bullish momentum over the last hour, surging from a low of $2,699.66 and reaching a peak of $2,771.75. This strong upward trend suggests renewed buying interest and could signify the beginning of a potential rally if momentum holds.

Key Observations:

• Upward Momentum: ETH’s steady climb in the last hour points to strong buying pressure, likely fueled by positive market sentiment.

• Support Level: The recent low of $2,699.66 could act as a short-term support if ETH encounters resistance in the near term.

• Possible Resistance Ahead: Although ETH is currently on an uptrend, it may face resistance at round-number levels or previous high zones as traders begin to lock in profits.

Indicators to Watch:

• Volume: Increased trading volume could confirm the strength of this bullish move, while a dip might suggest a potential reversal.

• RSI (Relative Strength Index): If available, check the RSI to see if ETH is entering overbought territory, which could signal a short-term correction.

Outlook: 📈

If the current momentum continues, ETH could soon break through its recent highs and aim for new resistance levels. However, traders should remain cautious of potential pullbacks if profit-taking sets in. Keep an eye on the $2,700 range for support in case of a dip.

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