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Ethereum (ETH) Price: Maintains DeFi Dominance as Price Tests Key Resistance
- Ethereum is resilient above $2,750, eyeing a break of $3,000 resistance, with potential for further upward movement as per technical indicators.
- Prominent crypto analyst Ted Pillows predicts Ethereum could surge to $10,000, drawing parallels with Bitcoin's 2015-2017 bull cycle.
- Ethereum maintains strong technical support at $2,720, with a bullish trend line forming at $2,780 on the hourly chart.
- Ethereum leads in DeFi with the highest Total Value Locked and has a lower inflation rate compared to Bitcoin.
- Reports indicate increased accumulation by Ethereum whales, pointing to growing institutional confidence in the asset.
- Ethereum has shown resilience above $2,750, despite facing resistance at $3,000, with strong support at $2,720.
- Technical analysis reveals a bullish trend line forming at $2,780 on the hourly chart, suggesting potential upward momentum.
- Recent price movements have seen Ethereum testing resistance at $2,850 and maintaining position above $2,750 and 100-hourly moving average.
- Whales accumulating Ethereum during price dips indicates confidence in long-term prospects, often preceding price appreciation.
- Ethereum's dominance in DeFi, lower inflation rate than Bitcoin, and institutional demand contribute to bullish projections for the asset.
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