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Ethereum Flashes Bullish Signal
Ethereum (ETH) has retraced 6% over the past week but has closed its fourth consecutive week above the 50-week moving average, indicating potential bullish momentum. Analysts suggest that a sustained close above the $2,520 neckline could lead to a rally towards $2,640. However, concerns arise from significant outflows in spot ETH ETFs and a rise in coins stored on exchanges, which may increase selling pressure and hinder price performance.