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Ethereum Price Analysis: Potential Reversal if Resistance Fails
As the bullish market cycle approaches its later stages, I see investors becoming more aggressive in their selling activities, indicating a possible decline in risk appetite. Trading volumes continue to stay moderate, which is insufficient to push Ethereum beyond its current resistance level. If ETH doesn’t manage to reclaim the $3,860 mark soon, it might retest the support zone around $3,360. However, a decisive daily close above $3,860 would suggest that the upward trend might continue.
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AI Analysis
In the current market conditions, Ethereum's inability to surpass the $3,860 resistance is a significant technical hurdle. The moderate trading volume indicates that traders are perhaps cautious or un...
AI Recommendation
Given the current technical setup, I recommend traders adopt a cautious approach. If Ethereum can close convincingly above $3,860, it might be prudent to consider a long position targeting further gai...
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.
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