- Ethereum price moved past the 50-day SMA at $2,853, indicating the uptick in buying pressure.
- A successful retest of the 50-day SMA will seal the breakout and forecast a move to $3,200.
- A twelve-hour candlestick close below $2,558 will create a lower low and invalidate the bullish thesis for ETH.
Ethereum price action has been stuck between two major barriers since January 24. The recent uptrend allowed ETH to push through a vital resistance barrier, signaling the…
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