Ethereum is currently trading at $3,232, with a high of $3,699 and a low of $3,099 over the last 24 hours. These movements suggest that Ethereum is approaching a critical resistance zone between $3,400 and $3,540.

If Ethereum can break above this zone, it could quickly target $3,720, with a potential for further upside to $4,097. However, failure to break through this resistance might lead to a retracement toward the $3,000 support level. In a more bearish scenario, $2,800 will act as a strong support.

On-chain data reveals that large investors are continuing to accumulate Ethereum, which is a positive sign for its long-term outlook. However, short-term price movements will likely depend on overall market conditions and trading volume. Be prepared for potential volatility as Ethereum approaches these critical levels.