Hello guys!
Ethereum has been rallying strongly within a well-respected ascending channel, pushing past key levels and now approaching a major resistance zone around $3,900โ$4,000.
According to the chart structure, it looks like price could soon react from this resistance, leading to a pullback into the $3,000โ$3,200 demand zone, which aligns with the midline of the channel.
This would be a healthy correction before potentially continuing the bullish trend and attempting a clean breakout toward new highs.
ETH is still bullish, but it may need to retest support before continuation.
Watch for a bounce from the $3,000โ$3,200 zone for a high-probability long opportunity.
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