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Ethereum (ETHUSD) is demonstrating a strong bullish trend, suggesting a continued upward momentum throughout the day. The initial target for Ethereum is $2,500. A breakthrough of this level could propel the price towards the critical resistance level of $2,623.77.
Support for this bullish outlook is provided by Ethereum trading above the 50-day Exponential Moving Average (EMA). This positive trend is expected to persist as long as the price remains above the support level of $2,340. A decline below this level could negate the current bullish sentiment.
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For today, the anticipated trading range is between a support level of $2,300 and a resistance level of $2,540.
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Trend Forecast: Bullish
