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Ethereum’s price shows signs of strength, with a slight rebound after retesting the $3.5K support level. While the price is poised to challenge the $4K resistance soon, periodic consolidations within the $3.5K to $4K range are likely as the market digests recent gains.
This pullback has triggered renewed buying interest, leading to a slight rebound that demonstrates the market’s intention to sustain its upward movement. The price’s pullback to this region and subsequent rebound confirm the continuation of the uptrend toward the $4K mark in the mid-term. This scenario implies that while the price will likely move toward the $4K mark, it may face periods of sideways trading and minor corrections within the $3.5K-$4K range. Such movements would allow the market to consolidate before another impulsive move.Ethereum’s price has rebounded at the critical $3.5K support level, maintaining its bullish trajectory.
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