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After several failed attempts at the $3,500 level, will ETH’s price finally break out?

Ethereum’s recent rebound from the $3,300 support level sets the stage for another push above $3,500 before 2025.

While Bitcoin fluctuates below $100,000, Ethereum has shown resilience in overcoming recent pullbacks. With new institutional investments on the rise, ETH is aiming to break through $3,500.

Amid broader market volatility, Ethereum’s price experienced a 4.67% pullback last night, forming a bearish engulfing candle pattern. While the pullback tested the critical support level of $3,300. However, Ethereum is now undergoing a bullish recovery as the market stabilizes.

Currently, Ethereum is priced at $3,427, with an intraday gain of 3.22%. On the 4-hour chart, a massive bullish engulfing candle has crossed above the 20-day EMA, indicating increasing bullish sentiment.

Moreover, the MACD and signal lines are preparing for a bullish crossover, reflecting rising buying pressure.

As a result, Ethereum could re-challenge the mark just above $3,500.

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