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Ethereum price rebounded, liquidating over $22 million in short positions. Technical Analysis shows that ETH is currently in a flag formation, with a breakout resistance level expected to reach a target of $3,700. Analysts believe that ETH may rise to $3,000 to $3,300 after a pullback to $2,400, and also pointed out that if it falls to $1,800 and finds support, it will open up a pump towards the $4,000 to $5,000 target.