As reported by CryptoPotato, technical analysis by analyst TradingRage shows that Ethereum prices have been adjusting over the past few weeks, which is the case since the decisive retreat from the $4,000 resistance level in March. However, the market may be about to make a U-turn. On the daily chart, the price has been forming a large descending channel pattern since the adjustment began. The lower boundary of the channel has recently been tested and pushed ETH upward. The market is also holding steady above the $3,000 support level, and investors are hoping to rush to the $3,600 resistance area in the short term. However, as long as the channel remains intact, further bullish continuation cannot be expected. The 4-hour chart further clarifies the recent price action. It is clear that the $3,000 support level has prevented the price from falling further and the market is forming a bottom. Currently, the cryptocurrency is running towards the middle line of the descending channel, and once it breaks through, it will pave the way for the price to attack the $3,600 resistance level again. The relative strength index shows a value above 50%, which also indicates that bullish momentum has the upper hand in the next few days.