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Ethereum’s Short-Term Outlook: What to Watch in the Next 24 Hours

Ethereum (ETH) has been holding near the $1,700 level, drawing interest as the overall crypto market begins to rebound. The next 24 hours could be crucial in determining whether ETH is gearing up for a sustained upward move or simply undergoing a brief consolidation. Several factors are likely to influence its momentum in the near term.

Market sentiment is gradually improving, largely thanks to Bitcoin’s recent gains, which are creating a more favorable environment for altcoins like Ethereum. If Bitcoin continues its upward momentum, Ethereum is expected to benefit from the positive spillover. From a technical perspective, Ethereum presents mixed signals. The Relative Strength Index (RSI) is approaching a neutral range, suggesting there is still room for upside before becoming overbought. Additionally, short-term moving averages are beginning to show a bullish tilt, which could support further growth if reinforced by strong volume.