Ethereum (ETH) Showcases Remarkable Resilience, Rebounds Powerfully Post $2,871 Support Rejection

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Ethereum's ETH Surges Over 9%

On Wednesday, Ethereum's native token, ETH, faced resistance at $2,871 but has since rebounded with a notable upward movement exceeding 9%.

At present, ETH trades around $3,116, representing a 0.47% increase over the past 24 hours. Indicators suggest a potential continuation of this upward trend.

Technical Indicators Signal Continued Growth

Technical indicators, including the 100-day moving average, trendline, and Relative Strength Index (RSI), indicate a possible continuation of ETH's upward momentum.

Ethereum's ETH Exhibits Strong Upward Movement

Trading around $3,116, ETH demonstrates a strong upward trend. Technical indicators suggest further potential for growth.

Technical Indicators Point to Ongoing Upward Movement

Despite resistance at $2,871, ETH has rebounded with a significant upward movement. Currently trading around $3,116, ETH shows signs of further upward movement towards the 100-day Simple Moving Average (SMA) and the trendline. This bullish trend is evident in both the 4-hour and 1-day timeframes.

100-Day Moving Avera...