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#Ethereum# just broke above the key $3200 resistance level, and that is a major technical and psychological milestone. This level acted as a cap for weeks, with multiple rejections showing strong selling pressure.
But this breakout came with solid volume and momentum, signaling real conviction behind the move.
Price is now trading above the 50 and 200-day moving averages, and #RSI# is pushing into bullish territory without being overbought yet. That suggests there’s room to run. If #ETH# holds above $3200 on the daily close, the next target zone opens around 3450 to 3600.
On-chain data shows increased active wallets and whale accumulation over the past week. Gas fees are ticking up again, hinting at rising on-chain activity
— a good sign during a breakout.
Watch for a retest of 3200 as support. If bulls defend it well, this could be the start of a stronger leg toward 4K.
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