Technical Analysis for Ethereum ($ETH)

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Technical Analysis for Ethereum (ETH):

The Ethereum (#ETH) chart shows the potential for short-term price consolidation within a key support level at 2922.75 and initial resistance at 3500. Current price movements indicate the formation of a possible double-bottom pattern at the support zone, signaling a bullish reversal if confirmed.

Key Levels:

Support: 2922.75 is a critical psychological and technical level. It has acted as a strong rebound point previously.
Resistance: The major long-term resistance lies at 4833.81, with intermediate resistances at 3600 and 4000.