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Ethereum Shows Strength – Bulls Aim Higher As ETH Eyes Potential Outperformance
Ethereum's price is experiencing a recovery, moving upwards after a recent decline. It successfully rebounded above $4,000 and then $4,120, displaying bullish signals. The price is trading above the $4,120 mark and the 100-hourly Simple Moving Average. A key bullish trend line is forming, providing support around $4,150. If it surpasses $4,320, further upward movement is anticipated. Resistance levels are expected near $4,250 and $4,400. Breaking above $4,400 might propel the price towards $4,500 and subsequently $4,550 or even $4,650. Conversely, failure to break $4,300 could trigger a fresh decline, with support around $4,150 and $4,120. The hourly MACD is showing bullish momentum, while the RSI is above 50.
