Ethereum Price Gathers Steam – Will The Ongoing Rally Power A $5K Breakout? 🚀
Ethereum's price is on an upward trajectory, having surpassed the $4,650 mark. It remains supported above $4,500, trading above $4,550 and the 100-hourly Simple Moving Average. A bullish trend line offers support at $4,550, indicating potential for further gains if resistance at $4,750 is cleared.
The price recently peaked at $4,759 but is now correcting. However, maintaining support levels could spur a rally aiming at $4,880 or higher in the short term. Conversely, failing to surpass $4,750 may trigger a decline towards $4,420.
Technical indicators suggest bullish momentum, with the MACD gaining and RSI above 50.
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