.........Three potential scenarios for Ethereum ...........
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📈 Scenario One: Price consolidation at support levels
Description: After the recent rise, Ethereum may face a period of consolidation between support and resistance levels.
Technical Analysis:
Support: $4,540
Resistance: $4,869
Target: Test resistance levels at $4,869.
Success Rate: 30%
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📈 Scenario Two: Breaking resistance levels (most likely)
Description: If Ethereum manages to break the resistance, the market could witness a strong bullish wave.
Technical Analysis:
Support: $4,540
Resistance: $4,869
Target: Reach levels of $5,200.
Success Rate: 50%
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📉 Scenario Three: Correction towards support levels
Description: If a correction occurs, Ethereum may drop towards support levels.
Technical Analysis:
Support: $4,540
Resistance: $4,869
Target: Reach levels of $4,200.
Success Rate: 20%
Ethereum is currently at a significant resistance level, and the entire market is still volatile. Practically speaking, it is likely that it may make a quick visit to the support level at $4,540–$4,500 before continuing its ascent, especially if selling pressure is light. This 'small correction' usually brings balance to the market and provides a better entry opportunity before the real bullish wave.
If support holds well, it will then rise directly towards the higher resistance and then to $5,200
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