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  • Ethereum price regains upwards momentum at the $3300 level
  • Expected to begin tagging the $3500 level
  • Regulation and infrastructure bill seems to have been shrugged off.

The Ethereum price seems to have resumed its upward momentum and is looking forward to making further gains. Although there still are some pitfalls on the way, the general prediction seems to be bullish with strong support at the $3000 level holding well.

At present, the Ethereum price is slightly down from the $3300 level at around $3290 but is still in an ascending mode. ETH is up almost 100% from its July 20 low of $1700 which demonstrates considerable potential and one of the best gains of the year. It is true that the rally could eventually be running out of steam but with the whole crypto market in extremely bullish mode, this does seem unlikely.

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Short Term Prediction For Ethereum Price: More Upside Swing Expected

The Ethereum price is around 30% up since 4 August confirming a continuous rally although there have been some slight pullbacks. The general consensus is that ETH will continue to rise slowly although the usual retracements may occur on the path to the $3800-$4000 levels.

If the bullish scenario were to continue, then Ethereum would be tagging the $3500 level. This represents a gain of around 8% from the current price. If that resistance level is broken then a further push upward to the $3800 mark would not be untoward.

A bearish thesis would of course invalidate this scenario. If that were to occur the Ethereum price would retrace to the $3000 level and eventually a sell off could precipitate a drop down to the $2700 level. This would represent a fall of around 15% from the current price. However, this scenario is quite unlikely considering the bullish sentiment in the market.

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Long Term Prediction For ETH price: Further Bullish Sentiment Should Prevail

Although there is still not much clarity on how the crypto tax which is part of the new US Infrastructure bill will affect investors in the market, this uncertainty seems to have been shrugged off. The Ethereum price is expected to continue advancing to the $3800 level very soon and this should provide a rosy picture over a long-term period.

Bulls seem to be aiming for a considerable 15% upswing in the short term so a breakout also appears imminent. There are resistance levels at the $3350 and $3400 levels although these should be swept aside as buyers continue to enter the market.

The long-term picture for Ethereum looks extremely bullish with investors appearing confident for another move forward to the $4000 level.

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