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Ethereum Consolidates Below Trendline Resistance Near Support Levels
Ethereum is now in a consolidation phase just below the descending trendline resistance. The price was recently rejected from the $2,588–$2,613 zone, indicating resistance at this level. Currently, the immediate support is around $2,531, with additional supports at $2,499, $2,410, and $2,300. These support levels are crucial for maintaining the current structure and potentially reversing upward movements.
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AI Analysis
Ethereum's recent price action shows a clear pattern of consolidation beneath a dominant descending trendline, which acts as resistance. The rejection from the $2,588–$2,613 zone suggests that bullish...
AI Recommendation
Traders should watch for a decisive move above the descending trendline resistance to confirm bullish momentum. In the short term, maintaining above support levels, especially $2,531, is crucial. A re...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.