$ETH /USDT price analysis

Ethereum (ETH) is trading at approximately $3,452.94, reflecting an increase of about 4.92% over the past 24 hours.

Technical analysis indicates that ETH is currently testing the 50-day Simple Moving Average (SMA) around $3,432. A sustained move above this level could signal a bullish trend, potentially targeting the $4,000 mark. Conversely, failure to maintain this support may lead to a decline toward the $3,200 psychological level.

Recent chart patterns, such as the formation of an Adam and Eve and a triangle pattern, suggest a bullish outlook with a potential target of $4,000.