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Ethereum (ETH/USD) continues to rise, recently reaching the $2,500 mark. The cryptocurrency may extend its gains to test the $2,623.77 level before potentially reversing direction.
Currently, the stochastic indicator is losing its positive momentum and approaching overbought territory. This suggests a possible bearish reversal and a resumption of the main bearish trend. As long as the $2,623.77 resistance remains intact, the bearish scenario will persist, with subsequent targets at $2,168.74 and $2,000.
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Expected Trading Range for Today:
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Support: $2,350
Resistance: $2,620
Trend Forecast: Overall bearish
