While Bitcoin fluctuates below $100K, #Ethereum✅ has shown resilience in overcoming the recent pullback. With a fresh bullish candle and increasing institutional investment, ETH is aiming to challenge $3,500 for a breakout run.
Ethereum Price Analysis
Amid broader market volatility, Ethereum’s price experienced a 4.67% pullback last night, forming a bearish engulfing candle and completing an evening star pattern.
The pullback tested the critical support level at $3,300. However, with the market stabilizing, Ethereum is now making a bullish recovery.
Currently, Ethereum is priced at $3,427, marking an intraday gain of 3.22%. On the 4-hour chart, a large bullish engulfing candle has crossed above the 20-day EMA line, signaling increased bullish sentiment.
Additionally, the MACD and signal lines are preparing for a bullish crossover, reflecting the rising buying pressure.
As a result, Ethereum is likely to re-challenge the overhead supply zone slightly above the $3,500 psychological mark.
Ethereum Price Chart
