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HomeLatestEthereum (ETHUSD) Price Breaks Resistance – Forecast for July 1, 2024
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Ethereum (ETHUSD) Price Breaks Resistance – Forecast for July 1, 2024

Ethereum (ETHUSD) Price Analysis

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Ethereum’s price (ETHUSD) has started the day with a strong bullish rally, successfully breaching the resistance of the bearish channel. This confirms the continuation of bullish trend dominance in the intraday and short-term perspectives, paving the way towards achieving our primary target at $3641.82.

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The formation of a double bottom pattern further supports the outlook for continued upward movement, potentially surpassing the aforementioned target to aim for additional positive targets over the longer term. It’s important to note that a break below $3360.31 could halt the current bullish momentum and lead to a new bearish correction phase.

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Expected Trading Range

Market expectations indicate a trading range with support at $3400.00 and resistance at $3640.00 for the immediate trading sessions.

Trend Forecast: Bullish

The trend forecast remains bullish for Ethereum (ETHUSD) in the near term.

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