VIP MARKET UPDATE: $ETH

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The price action currently exhibits characteristics of an ascending triangle pattern, and recent market dynamics show a notable rejection from the horizontal resistance level. A breakout followed by a successful retest of this resistance signals a robust bullish indication.

Conversely, a rejection at this level suggests a continuation of price movement within the confines of the ascending triangle. This pattern often implies increased market indecision, with potential for a significant move upon resolution. Traders may closely monitor the price behavior for further clues and potential trading opportunities.

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