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Ethereum Rises by 4.5%: Crypto Market Updates

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by Giorgi Kostiuk

10 hours ago


The cryptocurrency market continues to show growth as it sets new local peaks. Among the notable gainers today is Ethereum (ETH), which has risen by 4.5%.

Crypto Market Trends

The cryptocurrency market is currently experiencing a rise, establishing new local peaks. This indicates a growing interest from investors in various assets.

Ethereum Forecast

Ethereum (ETH) has notably increased by 4.5% today. However, ETH's current price is near the local support level of $2,765. If a breakout occurs, a further decline to the $2,750 zone could be likely. This scenario is relevant until tomorrow.

Current Metrics

On a longer timeframe, the price of ETH has nearly touched a resistance level of $2,827. If today's bar closes with a long wick and far from yesterday's candle peak, a decline to the $2,700-$2,750 range may soon occur.

At the time of writing, Ethereum is trading at $2,769. Investors should focus on the weekly bar's closure, as it may influence future price movements.

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