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Ethereum is trading in the green on the H4 chart at the time of writing. It has managed to jump above a dynamic resistance confirming further growth. ETH/USD should approach and reach new highs if Bitcoin continues to increase.
ETH/USD trades at 1,836 above the uptrend line, so the outlook remains bullish. The crypto was into a temporary corrective phase which is complete. Technically and fundamentally, the price could resume its major uptrend.
ETH/USD passed above the fifth warning line (WL5) which represented a dynamic resistance. It has tried to retes the broken WL5 but without success as the buyers are very strong in the short term.
The price flirts with the R1 (1,836) again. Closing above this static resistance and beyond 1,879 today's high could represent a long signal. The bullish bias remains intact as long as it stays above the 1,700 and above the uptrend line.
Jumping and closing above 1,900 psychological level signal further increase far above 2,040 all-time high. WL6 and the R3 (2,157) could be used as first upside targets.
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