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kirani

09/10 12:13

Ethereum Faces Range-Bound Trading: Break Above $4

Ethereum Faces Range-Bound Trading: Break Above $4,500 or Below $4,200?1000065548

  • Ethereum (ETH) has been trading in a narrow range for two weeks, with a breakout above $4,500 or below $4,200 likely determining the next direction.
  • The indicators of RSI and MACD demonstrate increasing strength of ETH, which represents the bullish attitude without becoming overbought.
  • Whale buying and net inflows indicate an increase in institutional desire, enhancing further positive movement.

Ethereum (ETH) has been trading within a short range for almost two weeks, making most traders frustrated. Analysts have pointed out that to have a breakout that would decide the next price direction. A strong close above the $4,500 or a strong close at the end of June below the $4,200 may represent the next shift. 1000065549

ETH has had an extremely significant development as indicated by the 4-hour chart. The dropping triangle that was created at the peak of the upswing that was crowned with ETH. The support zone of $4,200 to $4,250 was well-supported and had been supported by more than once by the buyers. Such a price squeeze is an indicator that there would be a breakout soon.
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