Ethereum recently experienced a strong rally following the U.S. election, with prices rising to $3,446 before hitting resistance. This 20% gain in Ethereum price, fueled by favorable market sentiment, has since leveled off due to profit-taking activities. This selling pressure has held back further growth, bringing Ethereum to a support area of around $3,100. While the short-term trend remains positive, indicators point to a potential slowdown in the bullish trend.
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