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As optimism returns to the encryption market, Ether Lee is gaining momentum. As Bitcoin officially entered the price and exceeded the highest high, attention is heading to ETH, which is currently testing critical resistance. Ether Lee has raised more than 55% since early May, and has renewed investor trust in a wider market intensity. But despite the impressive recovery, ETH is still inferior to Bitcoin’s speed and has not yet recovered 2021.
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The chief analyst has shared a technical opinion that DAAN emphasizes that Ether Lee is cutting $ 2,400 to 2,600 after the explosive movement early this month. Since the buyer maintains the active state but has not yet caused exhaustion, the price behavior with low price in this range is uncertain. DAAN pointed out that Bitcoin has been pushed to a new high and has a powerful leadership, but at this stage, Ether Leeum’s achievements are further mutual.
Nevertheless, the setting remains a constructive state for the bull. The level of $ 2,400 has been a solid support, and more than $ 2,800 resistance remains the next goal. The more Bitcoin continues, the more ETH can avoid this range and increase the new legs along the lead of the BTC. All eyes are now in the next movement of Ether Leeum.
Ether Lee Riium prepares a brake out as Altcoins enter the spotlight.
As Bitcoin surge to a new all -time high of $ 111K, the wider encryption market appears to be in a new momentum, which can benefit from Altcoin. Among them, Ether Leeum remains in an important position. ETH has not yet followed the BTC’s brake out, but it maintains firm support and shows signs of building intensity. To confirm the optimistic continuation, the ETH is decisively broken beyond resistance and leads to Altcoin rally.
DAAN has shared the technical view that ETH has been integrating between $ 2,400 and $ 2,600 since the last pressure has increased. Despite the explosive movement of Bitcoin, Ether Leeum is once again reflected in the cooling ETH/BTC ratio. This achievement has been controversial among traders, and many are waiting for ETH to catch the next Altseason.
DAAN emphasized that $ 2,500 was well conquered by the bull, but ETH has not yet created a convincing brake out. The core resistance level of the city hall is $ 2,850. Conversely, if the ETH drops to less than $ 2,100, it can cause a wider fullback. At this time, the ETH is changing to the range, but it is burning, and the market sentiment is more optimistic until that day.
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ETH tests critical prices
Ether Lee is showing signs of new strengths on a four -hour chart and trading about $ 2,668 at the time of writing. After a few weeks of $ 2,400- $ 2,600, the ETH pushed out the upper limit of this zone, suggesting a possible brake out. Recently, the recent bounce has been strong from the recent $ 2,450 support, and the strong momentum has increased when continuous green candles and volume signals increase.
The 200-period SMA and EMA, which are currently $ 2,077 and $ 2,1,99, are now much lower than the current price, which checks the optimistic market structure. ETH has been raising all the moving average since early May, and the current price action seems to increase the pressure on the decisive movement.
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However, ETH now persuades more than $ 2,700 to confirm the destruction and signal a continuous for high resistance of more than $ 2,850. This level has been tested several times, but the seller keeps defending. Brake outs can move quickly to $ 3,000, while ETH can be turned back to previous support without maintaining the current level.
DALL-E’s main image, TradingView chart