🐂 vs 🐻: Who will reign supreme in the world of Ethereum?
ETH/USD
The rate of Ethereum (ETH) has risen by 4.57% since yesterday. 🎉
The price of ETH is falling after a false breakout of the local resistance of $3,421. 📉 If the daily bar closes far from that mark, the decline is likely to continue to the $3,300 range.
On the bigger time frame, one should focus on the daily candle’s closure in terms of its peak. If it happens near $3,400 and above, there is a chance to see a test of the $3,500 zone shortly. 🔮
From the midterm point of view, neither bulls nor bears are dominating. The volume is low, which means neither side is ready for sharp moves. 😴
All in all, ongoing sideways trading in the range of $3,300-$3,500 is the more likely scenario. 🎲
Ethereum is trading at $3,394 at press time. 📈
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2025-01-24 18:53