Ethereum Price Bounce from Key Support –Potential Breakout Above
2025-01-18
Category: None

hello guys!

 Key points to consider:

Support Zone:  The $3,160–$3,200 zone acted as support, and Ethereum’s price has bounced strongly from this level, which could indicate further upward movement if the price remains above this zone.

 Resistance Zone:  Ethereum is approaching the $3,600 resistance level, which has capped the price previously. A breakout above this level would likely trigger a move toward the next target near $3,760–$3,800.

 Trend Reversal or Continuation:  If the price fails to break through $3,600, it could revisit the support zone, with the potential for a continuation of the overall downtrend. However, a confirmed breakout above $3,600 could signal a continuation of the bullish trend toward higher targets.
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Brief:
Ethereum is testing key resistance at $3,600 after bouncing from a strong support zone around $3,160–$3,200. A breakout above this resistance could push the price towards $3,760–$3,800, while failure to break it could lead to a retest of lower levels. Monitoring the price action around $3,600 will be crucial for determining the next direction.