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Ethereum (ETH) Price Prediction for April 28

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Sun, 28/04/2024 - 15:38
Ethereum (ETH) Price Prediction for April 28
Cover image via www.tradingview.com

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Most coins are facing a bounce back on the last day of the week, according to CoinMarketCap.

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ETH/USD

The price of Ethereum (ETH) has increased by 4.72% over the last 24 hours.

Image by TradingView

On the hourly chart, the rate of ETH is returning to the recently formed resistance level of $3,327. If the daily bar closes near it, the accumulated energy might be enough for a breakout to the $3,400 range.

Image by TradingView

Bulls are also powerful on the bigger time frame. At the moment, one should focus on the daily bar.

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If the candle closes around the current prices and with no long wicks, there is a chance to see a further upward move to the $3,400-$3,500 zone.

Image by TradingView

From the midterm point of view, it is too early to think about a bull run even if the weekly bar closes above the previous candle peak. In this case, sideways trading in the zone of $3,300-$3,500 is the more likely scenario for the next week.

Ethereum is trading at $3,310 at press time.

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