Ethereum Price Rises, Striving to Catch Up with Bitcoin’s Rally
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Ethereum's price has risen to over $2,680, surpassing significant resistance levels at $2,450 and $2,550. The cryptocurrency is currently trading above $2,550 and the 100-hourly Simple Moving Average, with a bullish trend line forming at the $2,550 support level. If ETH can break past the $2,720 resistance, it may move towards $2,800 and potentially reach the $3,000 mark soon.
Should ETH not manage to break the $2,720 resistance, it could see a correction down to initial support levels at $2,620 and $2,550. Further drops might take it to $2,450, with additional support at $2,320 and $2,250. Technical indicators suggest a bullish momentum, with the hourly MACD in the positive zone and the RSI above 50.
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