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Ethereum (ETH) on the Edge: Will Bulls Take Charge or Fade Away?
- Ethereum (ETH) is trading around $2.6K, attempting to start a bull run with a 3.55% gain in the past 24 hours.
- The altcoin's daily low and high are around $2,493.20 and $2,637.35, respectively, breaking crucial resistance levels at $2,537 and $2,611.
- ETH's market cap is at $315 billion, with a daily trading volume increase of 41.16%, reaching $19.15 billion.
- The market has seen liquidations totaling $52.43 million worth of Ethereum in the last 24 hours.
- Over the last thirty days, ETH has only increased by around 5%, with a monthly low and high at $2.3K and $2.8K.
- Potential scenarios include Ethereum testing immediate support at $2,605, or dropping to previous lows of $2.5K if the bearish trend continues.
- On the other hand, if Ethereum regains bullish momentum, it could target a range between $2,650 and $2,676, possibly supported by a golden cross.
- Technical indicators show ETH's MACD and CMF signaling bearish conditions and strong buying pressure, respectively.
- Ethereum's RSI at 55.79 suggests a neutral-to-bullish stance, while the BBP value at 107.82 indicates a strong bullish momentum.
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