🚨 BREAKING NEWS 🚨
🚀 Ethereum managed to reclaim the important resistance zone at $3.6K after a period of high buying activity and increasing bullish momentum. This opens up opportunities for ETH to reach new record highs in the near future. Following is the technical analysis: - The weekly chart shows significant bullish sentiment around Ethereum, with a substantial upward move past the previous critical resistance at $3.6K. - If the retest is successful, Ethereum price is expected to continue rising, targeting the all-time high of $4868. - That said, Ethereum may encounter significant support around $3.6K, with additional support levels at the 0.5 ($3066) and 0.618 ($2870) Fibonacci. 📈 The 4-hour chart confirms Ethereum's bullish sentiment and rising market confidence, pushing the price to the highest level since April 2022. However, after rejection at the $3.6K resistance, Ethereum found support in the critical region marked by the 0.5 and 0.618 Fibonacci levels. 🔥 Rising Ethereum market sentiment indicates higher investor confidence and higher buying activity. However, keep in mind that funding rates that are too high can be dangerous, as they increase the risk of long liquidations that could potentially lead to high market volatility and unexpected corrective movements.
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