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ETH Loses $3,358.76 Support Level

ETH has been trading within a range between the white support line and the light blue resistance zone. This light blue zone has been suppressing the price of ETH, pushing the price down lower. Today ETH lost support at the white trendline around $3,358.76. We saw a similar trend with Bitcoin after the spot BTC ETFs were approved. There was a selloff that led to the start of the rally from $40k to $74k. I think we are seeing a similar trend here and ETH could start to rally soon.

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