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#ETH Update


ETH also is moving inside a very tight range between the Cycle EQ and the 2025 EQ. It has never lost the 200-day EMA since May except a one-day drop on the 4th of June. Since the breakout, the bull market support band (21W EMA) acted as support.
The main support level is the confluence of the 20W EMA and Fib level at 2390.
Once it breaks out from the minor resistance at 2560 and 2600, it will head back to the Fib level at 2860 and will try to break back into the channel at 2950-3000.
The zone between 2400 and 2800 was also the range between August 2024 and November 2024 before the breakout. This time it is even more bullish because ETH is accumulating above the bull market support band while it was accumulating below it in 2024.
There are also constant flows into the ETH ETFs in the last month.
The first possible date for staking approval is in July.
GENIUS Act that regulates the stablecoins is in the last step for approval. Ethereum is the main network for stablecoins.
Other than the TA side of it, ETH has very bullish narratives ahead. There is no reason to not be bullish on ETH.
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