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Ethereum (ETHUSD) is trading around the 50-period Exponential Moving Average (EMA50), awaiting a strong positive catalyst to resume its bullish trend. A successful upward momentum could push the price towards initial targets of $2,775.00, followed by $2,905.30.
Overall, the bullish outlook remains valid as long as the price stays above $2,545.00. A drop below this level could trigger a bearish wave, with a potential target of $2,350.00.
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Today’s expected trading range is between $2,500.00 (support) and $2,760.00 (resistance).
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Trend Forecast: Bullish
