#ETH Price Analysis: $3,650 Breakout Possible, Possible Surge to $4,000

The next resistance facing Ethereum is around $3,620, followed by the key $3,640 level, a breakout of this threshold could trigger a bullish rally.

, a breakout of this resistance could propel Ethereum towards the $3,720 mark, further gains could push it to the $3,880 threshold.

This upward momentum could pave the way for Ethereum to approach the psychological barrier of $4,000, depending on continued bullish sentiment and trading volume.

Possible Downside Risks

On the contrary, a failure to break through the $3,600 resistance level could bring downward pressure. The immediate support is around $3,520, coinciding with the channel trendline. A break below this support could expose Ethereum to a steeper decline, with the main support at $3,500.

Ethereum's price could target the $3,465 area, in line with the 50% Fibonacci retracement of the previous rise. Any further bearish movement could push the price towards the $3,400 support area.

Technical Analysis

From a technical perspective, the hourly MACD shows that bullish momentum is waning and the curve is flattening. Meanwhile, the relative strength index (RSI) remains slightly above the neutral 50 mark, indicating a temporary bullish bias.

Key support levels:

$3,500 $3,465 $3,400

Key resistance levels:

$3,600 $3,620 $3,650

My conclusion, the US stock market opens tonight, and it is still bullish!

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