ETH prepares for a great movement, will it go through $ 3.5K?

ethereum vendors have fought to boost the asset below the crucial support of $ 3K for months, while the recent price action suggests a bullish rebound.

However, eth remains confined between the MA from 100 days to $ 3.3ky the 200 days at $ 3K. A decisive rupture of this range will determine the next main movement of the cryptocurrency.

Technical analysis

By Shayan

The daily table

The ethereum price action has been in a consolidation phase after a sales pressure period, with vendors trying to conquer the $ 3K support level. The asset is currently trapped between the MA from 100 days to $ 3.3ky the 200 -day Ma at $ 3K.

Recently, eth found a strong purchase pressure near the $ 3K support zone, which led to a significant rebound. This reaction suggests a strong presence of buyers who defend this level.

However, for a successful rupture above the $ 3.5K brand, ethereum requires greater purchasing and bundle impulse activity. The next price action within this range will be crucial to define the trajectory in the middle of the ethereum period, with bulls and bears prepared for a possible rupture.

The 4 -hour table

Within 4 hours, ethereum is consolidating within a descending wedge pattern. The price recently bounced from the lower limit of the wedge at $ 3K, aligning with the 0.618 Fibonacci recoil level, which reinforces this area as a strong support area.

Currently, ethereum is quoted within the strict range of $ 3k- $ 3.3K, approaching at the end of the wedge pattern. A rupture of this area is imminent, and the direction will be crucial to determine the next important trend in the market. Given the market conditions, an upward breakdown above this pattern could trigger a rally towards the medium -term $ 4K threshold.

Sail analysis

By Shayan

While eth has shown early recovery signs, market participants are closely monitoring the probability of a break over the current price range. The key question remains if cryptocurrency can generate sufficient impulse to violate the critical resistance level of $ 3.5K.

The metric of the financing rates, a crucial indicator of the feeling of the market, has recently decreased, suggesting that the market is no longer overheated. This cooling phase indicates that excessive leverage has been reduced, creating space for a possible sustained rally if demand increases in the spot market.

In particular, financing rates have begun to increase slightly together with ethereum's pricing rebound. This subtle change suggests a growing upward driver in the perpetual futures market. However, for a decisive rupture above the threshold of $ 3.5K, the metric of financing rates must increase even more, indicating increased optimism and an influx of long positions. If the demand continues to grow, eth could be prepared for a significant manifestation in the next few days.

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