Ethereum is experiencing a remarkable recovery in Q3 2024, with a gain of over 55 % from its June low of approximately $1,600 to its current level of $2,492. The cryptocurrency broke through the $2,000 mark in August and consolidated between $2,400 and $2,550, while reclaiming its position above all major moving averages. The next significant test lies in the $2,550 to $2,650 range, and a decisive breakout could pave the way toward $2,700 or even $3,000. The bullish structure remains intact as long as Ethereum holds above the dynamic support zone of $2,350 to $2,400.
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