Ethereum (ETH) continues its steady climb, flirting with the $3,400 resistance level—a barrier that could soon give way if current momentum holds. With the broader crypto market in bullish territory and investor confidence returning, ETH appears primed for a potential breakout.
Market Overview
ETH price has risen nearly 10% over the past two weeks, climbing from around $3,100 to its current range near $3,380. The $3,400 mark has become the focal point for traders, as multiple rejections from this level have kept Ethereum temporarily capped. But growing buy volume and positive sentiment suggest a breakout to $3,500 could be imminent.
Should Ethereum fail to breach $3,400 in the near term, it may consolidate back to $3,250 or $3,150 before making another attempt.
Why ETH Is Rising
- Network Strength – The successful rollout of the Dencun upgrade and EIP-4844 has made Ethereum more efficient and cost-effective, addressing one of its biggest criticisms—high gas fees.
- Altcoin Season Hints – With Bitcoin consolidating, traders are rotating into large-cap altcoins like Ethereum. ETH’s relative stability and ecosystem dominance make it a top choice during this phase.
- ETF Buzz – Ongoing speculation around a potential spot Ethereum ETF in the U.S. continues to create bullish sentiment. While approval is uncertain, investor excitement is clearly influencing price action.
What to Expect
A clear break and close above $3,400 could set the stage for ETH to run toward $3,500 quickly. If momentum continues, $3,650 becomes a realistic short-term target.
Ethereum’s current position puts it at a technical crossroads. With both macro and network fundamentals supporting its growth, all eyes are on the resistance—ready for the breakout.
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