↖️📊ETH Price Forecast:🟰 Ethereum trading is about 7% lower than a new all-time high,🔺 with the potential for new🔺 highs soon📊↖️
⬅️Summary↖️
💎Ethereum reached two new🔺 highs this month, peaking at $4,953 on August 24🔺, before retreating to around $4,587 on August 28🔻 - 🔻approximately 7% lower than its all-time high.✔️📶
💎The key support remains steady at $3,900,🔺 serving as a🔺 critical level to maintain upward momentum and indicates the possibility of further gains.✔️📶
💎Positive catalysts include increasing optimism regarding approvals for spot ETFs🔺, strong network fundamentals🔺, and institutional demand fueling renewed buying interest.✔️
💎Technical analysis points to a bullish setup, with higher highs,🔺 strong volume support,🔺 and an upward Fibonacci target at $5,790.✔️📶
💎If ETH maintains support above $3,900🔺, analysts expect a potential rise🔺 towards $5,790🔺; a drop below this level could lead to a deeper correction.✔️📶
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