Healthy Retracement and Structure Formation:
- ETH experienced a healthy retracement back to $2,380 after breaking structure at $2,700, establishing a new higher low above the previous low of $2,337. This higher low indicates continued upward momentum, setting the stage for further gains.
Key Resistance Levels and Targets:
- ETH has successfully surpassed the $2,633 resistance zone and reached $2,700, which is another significant target.
- A break above the $2,700 resistance would signal continuation, with the next key targets being $2,840 and, ultimately, $3,100—located at the 1.618 Fibonacci level, representing a strong resistance zone in the current uptrend.
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