Ethereum ($ETH ) has experienced a notable 7.093% increase over the past 24 hours, reflecting strong momentum as it pushes towards its resistance at $2490.77. The Bollinger Bands indicate potential volatility, with the upper band at $2429.91 and the lower band at $2181.10, signaling that ETH is trading near its upper limit of the range. Despite Bitcoin's undefined influence on the market, its overall rally may still provide upward support for ETH. Given the current macroeconomic climate—particularly inflationary pressures and regulatory developments—traders should consider a short-term strategy due to increased volatility. The key takeaway is that while ETH’s price action demonstrates strength, traders must remain cautious as it approaches resistance levels, keeping an eye on broader market sentiment.

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