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Ethereum at $4.4K: Is a Bullish Reversal Possible?

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by Giorgi Kostiuk

5 hours ago

Ethereum is currently trading around $4.4K as the market shows volatility. Let's look at the current situation and possible directions.

Current Price and Liquidation in the Ethereum Market

As of now, Ethereum is trading at approximately $4,402, after opening the day at $4,482. Price decreases have led to $132.03 million worth of liquidations in the last 24 hours.

Potential for Bullish Reversal or Consolidation

Currently, ETH may dip to support at $4,395 if the bulls fail to regain control. If a bullish trend is restored, the price may rise towards resistance at around $4,409.

Evaluation of Market Indicators and Their Impact

Indicators show reduced momentum for Ethereum. The RSI value is at 45.45, indicating a neutral to slightly bearish trend. However, capital inflow is observed, suggesting a potential recovery.

Ethereum finds itself in a challenging situation with an unclear future, but increasing investor interest might lead to a possible bullish reversal.

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