Ethereum has recovered from the lower boundary of the descending channel and is currently trading above $3,300. The next significant resistance level lies around $3,400. A break above this level could see ETH target the $3,600 mark.
Support is strong at $2,950, which aligns with the previous consolidation zone and the lower boundary of the descending channel.
A break and close above $3,400 with high volume could target $3,600 and above.
Failure to break $3,400 could lead to a retest of the $2,950 support area.
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