Sure! Here's a paraphrased version of your Ethereum market update:

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Ethereum Ready to Surge — Is a Breakout on the Horizon?

Ethereum recently pulled back to test the $2,500 level after failing to hold gains near $2,740. However, it’s on the move again and could soon break through the $2,600 mark.

Key Highlights:

ETH dipped to $2,500 during a correction from the $2,740 high.

The price is currently trading above $2,520 and the 100-hour Simple Moving Average (SMA).

A descending channel or bullish flag is forming, with resistance around $2,575 on the hourly ETH/USD chart.

Price Outlook: After struggling to stay above $2,740, Ethereum dropped below $2,700 and $2,650. Sellers drove it below the 50% Fibonacci retracement level of the $2,415 to $2,735 move, and it briefly dipped under $2,520 before finding strong support at $2,500.

The bounce from $2,500 suggests buyer strength. ETH now holds above $2,520 and the 100-hour SMA. Immediate resistance lies at $2,575, followed by a key hurdle near $2,600. A successful break above $2,600 could open the door to higher resistance levels at $2,650 and then $2,735. Pushing past $2,735 could propel ETH toward $2,800 or even $2,920 soon.

Downside Risk: If Ethereum fails to clear $2,600, it could dip again. Initial support lies around $2,525, with major support near $2,500. A decisive drop below $2,500 could lead ETH down to $2,420, and continued weakness might bring it to $2,350 or even $2,320.

Technical Indicators:

The MACD on the hourly chart is gaining strength in bullish territory.

The RSI is above 50, suggesting positive momentum.

Key Levels to Watch:

Support: $2,500

Resistance: $2,600

#ETH #CryptoCPIWatch #TradeStories #TradeWarEases $ETH

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