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Ethereum Price Analysis: ETH Holds Steady Amidst Market Fluctuations
Current Market Overview
Despite some exceptions, most cryptocurrencies are showing positive movement according to recent data from CoinMarketCap.
Ethereum Price Movement
The price of Ethereum (ETH) has experienced a slight 0.73% decline in the past 24 hours.
Short-Term Analysis
Looking at the hourly chart, Ethereum’s price is currently positioned within a narrow range between $3,317 support and $3,402 resistance. A potential breakout towards the $3,420-$3,440 range could be anticipated if the upward momentum continues.
Long-Term Outlook
Traders should observe the daily close above the $3,387 resistance level. A decisive closing above this point without significant retracements could propel Ethereum towards the $3,500 mark.
Weekly Projection
Aiming higher, sustained buyer interest may lead ETH towards the $3,600 range by the end of the month if the current bullish trend persists.
At the time of writing, Ethereum is trading at $3,367.
The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
