After underperforming for months, ETH price has finally started to show some acceleration with it now breaking above $3,300 with quickly gaining 4% in the past 24 hours.
Over the past few days, the crypto community is abuzz with traders, analysts and investors collectively pushing ETH to catch-up with a bullish momentum. All recent discussions around Ethereum Foundation and Ethereum’s adoption among institutional investors have seemed to finally come fruitful as ETH price starts to spike.
The latest market data shows that ETH is currently trading at $3,350, where it could face a short term resistance before hitting $3,400. For the next few days, ETH could be trading in between $3,400 to $3,500 range, key levels to be seen while ETH prepares to break above $4,000 and beyond.
As ETH has faced strong rejections near critical resistance levels in the past, a failure to hold above $3,400 could lead to short-term corrections. This could potentially pull ETH price back toward the $3,150 – $3,200 support zone.
What’s next for ETH?
Now as ETH price is accelerating, analysts are eying for it to break the current channel with hitting $3,550 in sharp upstick. For a broader picture, ETH would need to break the major resistance at $3,500 in order to clear its pathway to $4,000, a psychological mark. The price levels near $3,700 could also be seen as key resistance, from where ETH has restretched and pulled back below $3,000.
The recently increased popularity of Ethereum, thanks to Trump’s World Liberty Financial, has been a driving force behind the latest price surge. If ETH maintains its current momentum and successfully breaks past the $3,500 resistance, it could pave the way for a stronger rally.
The current on-chain data indicates that whale activity and accumulation trends are so strong that any further dips could be short-lived. If buying pressure remains steady, ETH could see a gradual climb beyond $4,000, setting the stage for a new bullish cycle.
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