On August 12, 2024, Ethereum (ETH) was valued at $2,683, fluctuating within a range of $2,523 to $2,720. Despite significant market activity, technical indicators suggest that ETH is facing difficulties breaking through resistance levels, indicating a potential bearish trend. Short-term recovery is noted, but maintaining levels above $2,700 remains a challenge, with a possible drop towards $2,600 if selling pressure increases. While some indicators show buying opportunities, the overall outlook is bearish, with caution advised for traders. Ethereum’s future movement will depend on breaking above key levels like $2,800.
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