CryptoPotato published a viewpoint article stating that after a period of high buying activity and enhanced bullish momentum, Ethereum has successfully recaptured a key resistance zone, the previous yearly high of $3,600. If this breakthrough is confirmed, Ethereum is expected to set a new all-time high in the near future.
Technical analyst Shayan’s weekly chart in-depth analysis shows that there is significant bullish sentiment surrounding Ethereum, evidenced by a sharp move above key resistance at $3,600. This price action reflects the strong interest in ETH among market participants, leading to increased demand. If there is a successful retest of the broken levels, the price of Ethereum is expected to continue rising, targeting the key all-time high of $4,868. Despite the bullish outlook, Ethereum may encounter important support near the $3,600 threshold, with additional support levels within the Fibonacci levels of 0.5 ($3,066) and 0.618 ($2,870) that could serve as a catalyst for corrective volatility. area.
