Fueling Bullish Momentum

Ethereum experienced a notable surge over the past 24 hours, breaching the upper boundary of its trading channel with a robust bullish candle in the 4-hour timeframe. The previously resistant channel roof has now transformed into a reliable support level, which has the potential to elicit a positive response during a pullback within this range. Specifically, the price range of $1828 to $1837 is being considered, and from this region, there is a possibility for price escalation towards the subsequent resistance level situated around $1920. Currently, Ethereum faces resistance within the range of $1865 to $1870. During this phase, the price may undergo a brief period of range-bound movement. Overall, a break above the resistance range of $1930 could potentially reverse the prevailing daily trend and usher in a bullish phase for Ethereum.

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