Key Market Developments
Ethereum $ETH is currently trading at $1,618, up 2.77% over the past day, showing signs of recovery after falling to yearly lows earlier this week. The second-largest cryptocurrency by market cap is attempting to establish a base above $1,600, which could serve as a springboard for further gains if market sentiment improves.
Technical analysts note that $ETH is approaching a historically important support zone where long-term trendlines and oversold indicators align—levels that have often preceded notable rebounds in previous cycles.
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