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Crypto

Ethereum Consolidates Above $3,280 Support Level Amid Waning Momentum

Guavy AI Editorial Team
Instruments
ETH
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Ethereum has been consolidating above the $3,280 support level after its recent rally to $3,402.

The price increase was followed by a pullback below the 23.6% Fibonacci retracement level of the move from the $3,060 swing low.

A bullish trend line has formed on the hourly ETH/USD chart with support at $3,280.

The token remains above the 100-hourly Simple Moving Average, with immediate resistance sitting at $3,320, followed by $3,350 and $3,385.

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