Ethereum (ETHUSD) begins today’s trading session with notable positivity, having stabilized above the critical support level of $3,132.80. This positive movement suggests the cryptocurrency is set to recover, with an initial target of testing $3,360.31. A breach of this resistance could lead Ethereum to further gains, potentially reaching $3,505.00, and subsequently $3,641.82.
The current bullish bias is supported by stochastic indicators, which are showing positive momentum. However, if Ethereum falls below and remains under the support levels of $3,132.80 and $3,100.00, the bullish outlook may be compromised.
The anticipated trading range for today is between $3,100.00 support and $3,400.00 resistance.
Trend Forecast: Bullish
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