Ethereum ‘has to bounce’ as ETH bulls pin $5K rally hopes on critical support channel

Ethereum’s native token Ether (ETH) could see yet another strong rebound in the sessions ahead as its price falls into a trading zone with a recent history of attracting buyers.

The rising trendline has been triggering ETH’s price rebounds since the beginning of October 2021 and comes as a part of a broader Ascending Channel range.

ETH/USD four-hour price chart featuring the Ascending Channel setup. Source: TradingView

As a result, Ether’s path of least resistance has been to the upside despite…

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