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Ethereum Holds Key Support: Is a Breakout Toward $4,000 Next?

Ethereum Holds Key Support: Is a Breakout Toward $4,000 Next?
In summary, Ethereum (ETH) recently tested a critical support level before rebounding, indicating that its long-term uptrend is still intact. The cryptocurrency found stability around the 200-week exponential moving average (EMA) and respected a key trendline, suggesting strength in the market. While the price of ETH has been progressing slowly, it maintains an upward trend and there is skepticism about bearish traders being able to hold back bullish momentum. Furthermore, the recent bounce in ETH is seen as a sign of its recovering strength and confirms its position as the primary crypto asset. The market may continue to see upward price movement as long as Ethereum maintains its support levels, and a price increase above $4,000 would indicate strengthening bullish market sentiment.

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