ETHUSDT on the 8h chart is showing a strong uptrend, with price action contained within a rising channel. Multiple consolidations have acted as launchpads for further gains, and the current price is bouncing off the lower channel support at 2,100 USDT. The pattern of higher lows and strong rebounds from support levels indicate that bulls are in control. The next resistance is at 2,700, and a breakout above this could open the way to 3,100.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.