Ethereum continues to trade within a strong uptrend on the 1-hour chart, respecting the 100 EMA consistently throughout the rally. After a strong impulse move, the price is now consolidating near the recent highs.
ETH price could retest the 0.382 Fibonacci level and the 100 EMA before continuing upward. A successful retest would signal strength and could lead to a bullish continuation toward the $3900 – $4000 range.
Similar historical retests of the 100 EMA led to strong rallies, and we could see a repeat of that pattern if support holds.
Cheers
Hexa
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