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Will Ethereum's sustained breakthrough lead to a price rebound above $3,400 and surpass the supply zone of $3,568?
As Bitcoin rebounds to the level of $96,000, Ethereum is also experiencing a rebound. In the past 24 hours, Ethereum has surged 3.39% and is gradually approaching the $3,500 mark.
The bullish momentum of Ethereum is strengthening after a Rebound on the 4-hour chart. Will this breakthrough push Ethereum through the supply zone of $3500? Let's explore.
ETH Price Analysis
On the 4-hour chart, the price trend of Ethereum shows a triangle breakout with a strengthening Rebound momentum. Ethereum has seen six consecutive bullish candles, rebounding 3.17% from the local support trend line, and rebounding from $3333 to the current market price of $3437.