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Ethereum Price Alert: Is a Mega Rally Coming?
- Ethereum price is showing signs of a potential rally, surpassing resistance levels after bearish consolidation.
- Current price at $2,638.8 sees a daily gain of over 2% with support from various technical indicators and market factors.
- Heikin Ashi candles indicate sustained bullish pressure in the market, backed by strong buyer conviction.
- On the daily chart, Ethereum has broken key moving averages and is aiming for the $2,700 resistance level for a trend reversal.
- Hourly chart shows solid support near $2,530-$2,550 and bullish momentum as ETH approaches the $2,610 resistance.
- Fibonacci retracement levels suggest bullish control, with potential targets at $2,950 and $3,250 if ETH holds above $2,500.
- A break above $2,700 could lead Ethereum to previous highs, while failure may see a pullback to support levels around $2,300.
- Increasing volume supports the current rally, while momentum indicators hint at a short-term pause before potential continuation.
- The breakout past resistances and moving averages indicate Ethereum is likely entering a new bullish phase towards $3,000 or higher.
- Traders may watch for a breakout above $2,700 with a stop-loss strategy, while long-term investors may find value below $2,700.
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